Goldman Sachs Hawken downgraded Goldman Sachs ( GS) to a "Neutral" rating from a "Buy" rating, while stocking with his price target of $125.00. Goldman closed at $119.02 Wednesday, returning 33% year-to-date, following a 46% decline during 2011. The shares trade for 0.9 times tangible book value, and for 9.5 times the consensus 2013 EPS estimate of $12.50. Hawken estimates that Goldman Sachs will earn $11.25 a share for all of 2012, followed by EPS of $13.75 in 2013. The analyst said that "GS navigated the financial crisis with greater agility than most of its peers, and it gained significant market share as it was willing and able to take on risk when clients needed it most." On the other hand, "the firm has taken a reputational hit more recently and remains in the political crosshairs," according to Hawken, who added that "regulatory overhangs could result in constrained valuation multiple for GS shares until greater certainty emerges around the firm's long-term earnings power." GS data by YCharts Interested in more on Goldman Sachs? See TheStreet Ratings' report card for this stock.