Credit Suisse analyst Susan Roth Katzke maintained an Outperform rating on Goldman Sachs (GS), but lowered her price target to $258 from $280. In a research note to investors, she says that she has increased the weighting on her "gray sky valuation" to 25% from 15% and reduced the weighting on her "blue sky scenario" to 25% from 35%, and while she does not anticipate an imminent turn in the cycle, she feels she must recognize some increased probability relative to the status quo. She says Goldman remains her most levered play on the capital markets. The analyst also lowered her price targets on other large banks, including PNC (PNC), Bank of America (BAC), State Street (STT), JPMorgan (JPM) and Wells Fargo (WFC).