Goldman Sachs downgrades CreditAccess Grameen to sell, stock down 12%

Shares of CreditAccess Grameen skidded as much as 11.8% on Friday to Rs 870 per share on BSE after global brokerage firm Goldman Sachs downgraded the microfinance company’s rating to ‘Sell’ from “Buy” and slashed the target price by over 60% to Rs 564.

Goldman Sachs highlighted significant…