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Berger: Why I am buying Goldman Sachs

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Banking stocks may be down 10-15% from the summer highs and Goldman Sachs about 20%. But Serge Berger remains convinced there are good reasons to buy the investment bank and here’s why.

With all the market volatility in the third quarter, he expect trading volumes to be up when Goldman Sachs reports earnings on October 15th, adding the recent V-shaped reversal in Goldman stock was a “bearish washout”.

Berger is looking to by Goldman shares at around USD 174. His stop for the trade is at USD 168 and his target is USD 188.