If you listened to the call, and know any thing about this company, I am hard pressed to find the Goldman analysts opinion of any value. This analyst only focused on the quetions that he personally asked, and ignored the rest of the call in order to come to this conclusion. He is also making some very tough assumptions that I disagree with. GTI is 20% below break-up value if they decided to close down today.
I listened to a portion of the call and thought that the company presented a straightforward account of its results and its prospects. In the portion that I heard, I see no reason for Goldman's downgrade; certainly not at its current pps.