Goldman Sachs Research Summary (MAR 27, 2007)

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By Douglas A. McIntyre Published

Opnext (OPXT) started as Neutral at Goldman Sachs; stock up 10% since IPO and Goldman sees 9% more upside to the stock.

Earnings estimates INCREASED for Fifth Third Bancorp (FITB) and Kimberly-Clark Corp (KMB).

Earnings estimates DECREASE for State Street Corp. (STT), SunTrust Banks (STI), U.S.Bancorp (USB), Washington Mutual (WM), Western Alliance Bancorp (WAL), Bank of America (BAC), Ethan Allen (ETH), Agere Systems (AGR).

Goldman Sachs notes that Q1 banking earnings will show modest top line growth with flat to down net interest income based on the inverted yield curve.

Tiffany & Co (TIF) maintained Neutral.

Goldman Sachs adopts a buy and hold strategy in oils and gas companies with a 10%+ to 13% upside in the names, but says they prefer to buy on dips rather than chase rallies; says they could see 30%+ upside for the sector to current high-end trading values.

Hawaiian Holdings (HA), parent of Hawaiian Air, maintained neutral but Goldman says the investor update shows severe yield pressure and worse than expected; it is reviewing its estimates.

Jon C. Ogg
March 27, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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