Jim Cramer Sees Opportunity in Pessimism and Highlights These 12 Stocks

11. Goldman Sachs Group Inc. (NYSE:GS)

Number of Hedge Fund holders: 223

Goldman Sachs Group Inc. (NYSE:GS) came up as an example of how even solid earnings can be overshadowed by sentiment-driven price target cuts. Jim Cramer defended Goldman’s performance, particularly its robust trading business, despite the market’s cautious stance. Here is what he said:

“When you look at the combination of just endless numbers of price target cuts. I mean, Goldman, there’s like eight price target cuts. Goldman had a good quarter. It just happened to be from the 500 level instead of the 600 level. The reset that happened of stocks getting clogged. […]

Goldman turns out to have a trading business that is so terrific, that it can paper over what happens with IPOs and M&As.”