Goldman Sachs Recommends Buying Northern Rock Shares Following Drop

(Bloomberg) -- Investors should buy stock of
Northern Rock Plc, the U.K. mortgage lender that two days ago
said it expects to miss analysts' profit estimates, according to
Goldman Sachs Group Inc.

The world's biggest securities firm by market value added
Northern Rock to its ``conviction buy list,'' saying its shares
have fallen too far. Northern Rock shares dropped 12 percent to
829 pence yesterday before rising 3 percent today to 856 pence
as of 2:30 p.m. in London. Goldman Sach's 12-month target price
for the stock is 1,097 pence.


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