Goldman Sachs finds itself once again the focus of two negative reports - and one of them seems to be having an adverse effect.  A new Bloomberg survey of global traders, investors and analysts, conducted May 9 and 10, finds that 54% of respondents have an unfavorable opinion of the NY-based bank.  That's more than double the negative rating for JPMorgan Chase.  It's also just a  month after a U.S. Senate report said Goldman Sachs misled clients.  

That said, 78% of those surveyed believe the accusations will either have no effect on the firm or will harm its reputation without driving away customers.

The quarterly Bloomberg Global Poll of investors, traders and analysts who are Bloomberg subscribers was conducted by Selzer & Co., a Des Moines, Iowa-based firm. It has a margin of error of plus or minus 2.8 percentage points.

        Rochdale Research Report.   Meanwhile, in a separate report, shares of Goldman Sachs are under pressure following a scathing report from outspoken industry analyst Dick Bove of Rochdale Securities.  Mr. Bove slashed his rating on the investment bank to a “sell” today, saying that pressure is building for the Justice Department to take action against Goldman.   Mr. Bove had a “buy” rating on Goldman just a month ago with a price target of $188.  On 4/19, he reduced his outlook to “neutral” after the firm released Q1 earnings on 4/19.  His current price target is $120.  

[C-I Note:  Something's missing from the equation.  A price target drop of 33% ($188 to $120)?  In one month?  That all can't be attributed to Goldman.  Our guess is that Mr. Bove has reversed his vision for the stock market - or, perhaps for the banking/investment sector - believing it's going to "tank."  Neither scenario is good.] 

Goldman had no immediate comment.  For further details, go to:   [Bloomberg, 5/12/11]    [NYTimes 5/12/11]