Goldman Sachs lowered to Market Perform at KBW on peak valuation

Keefe, Bruyette & Woods downgraded Goldman Sachs (NYSE:GS) shares to Market Perform from Outperform on Thursday as analyst David Konrad pointed to the investment banking stock’s “elevated valuation and a more balanced risk/reward relationship.”

Year-to-date, GS climbed 8%, trouncing the S&P