Financials, Goldman Sachs

This week were are expecting some big financial names to release their earnings. Goldman Sachs tomorrow morning, Lehman Brothers on Wednesday, and Bear Stearns Co. on Thursday, both of them before markets open also.
While GS beat earning expectations last quarter the stock is now 10% from it's highs at about the same level as it was on its last earnings release. So the stock looks like a bargain, specially when you look at the PE and PEG compare to the industry(10.4, 0.7 to 18.2 and 1.4). It looks to me as the stock should double before it would reach average valuations. So what's keeping this stock from taking off? Guidance, I imagine.
Analyst only expect $21.15 EPS for 07 compared to 06's $19.69. That's only 7.41% earnings growth, could that be true? After 06 75.55% earnings growth and 5 year growth rate of 35.75%? I must be missing something.
If you see anything out there that could qualify as a big red flag, please let me know. Meanwhile I'm going to unlock some funds and start a very small position.
Good luck out there!