Jim Cramer Says Goldman is "Not Going to Stay Down for Long"

The Goldman Sachs Group, Inc. (NYSE:GS) is one of the stocks on Jim Cramer’s radar. Cramer discussed the stock’s recent downgrade by Citizens JMP. He remarked:

“These M&A deals are incredibly lucrative for the banks that orchestrate them. The results won’t necessarily be seen this quarter, so I can see why Citizens JMP, a brokerage house, might take Goldman Sachs from Buy to Hold. Goldman reports Wednesday, and you won’t see the bump in numbers from the deal market yet.

However, these… July deals are a terrific harbinger for the fall. You don’t usually get a lot of deals during the summer, and I don’t think it makes sense to sell Goldman here and then try to get back in it later. Good luck. Even if they miss the quarter on Wednesday, it’s not going to stay down for long. I’m clearly not alone as the stock actually rallied more than eight bucks today despite this downgrade.”

Goldman Sachs (NYSE:GS) provides financial advisory, investment management, and banking services across a broad range of asset classes and client needs. The company’s services include M&A advisory, lending, trading, wealth management, and digital financial platforms.

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Disclosure: None. This article is originally published at Insider Monkey.