UPDATE 1-Credit Suisse cuts Q3 profit view on Goldman Sachs

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Sept 3 (Reuters) - Credit Suisse cut its third-quarter profit view on Goldman Sachs (GS.N) by 30 percent citing cost of asset price declines, weaker trading volumes and reduced investment banking activity.

Analyst Susan Katzke now expects third-quarter earnings of $1.50 a share, down from her earlier view of $2.15 a share.

Katzke, who has an outperform rating on the stock, also cut her 2008 earnings per share view on the company to $13.50 from $14.50.

She, however, did not change her 2009 profit view of $19.0 on the largest U.S. securities firm.

In the past few weeks, Goldman Sachs has seen analysts at Merrill Lynch, Fox-Pitt, Bernstein, Citigroup and Lehman cut their estimates on it.

Shares of Goldman Sachs fell a percent to 163.75 before the bell. They had closed at $165.32 on Tuesday on the New York Stock Exchange. (Reporting by Sweta Singh in Bangalore; Editing by Jarshad Kakkrakandy)