“$GS has lowered its rating on equities in general, although this is really just over the near term rather than in the long term. The near-term rating has been cut to Neutral from Overweight for a three-month outlook. Goldman Sachs said that the recent gains in equities need time to be digested by the markets, as the chances for a strong rally to continue have lowered on the heels of such large gains since the end of 2012.
Goldman Sachs is maintaining strong conviction on the long-term outlook, and again this downgrade is based on the near term. Asset prices have appreciated to the point that they are fully priced, based on the firm’s near-term expectations and price targets.
For a 12-month outlook, the firm maintains an Overweight stance…..”
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