Goldman Sachs Upgrades Refiners

Goldman Sachs has upgraded the oil refining sector.Oil will go up to 85 dollars a barrel by the end of the year,Goldman estimates.Oil demand will recover through the end of 2010.

Google Added

Goldman Sachs has added Google to its conviction buy list.Google's price target was raised from 510 to 560 dollars.Goldman sees potential for Google revenue growth.

A Goldman Outlook

For Abby Joseph Cohen,President of Goldman Sachs' Global Market Institute,preventing financial crises is a question of better and more effective regulation,as well as enhancing financial literacy.Our feeling is that the worst of the economic news is over,Ms.Cohen stated.Gross Domestic Product for Q2 will be -3,and barely positive for Q3-Q4.We're not expecting another spike in price,but a 900-950 S and P trading range.The time frame in investors' minds is getting longer.Those categories with some exposure to the global economy would be appropriate,Ms.Cohen said.

Price Targets Raised

Citigroup has raised its price target for Google from 450 dollars to 580.Goldman Sachs says oil will climb to 85.00 a barrel by year's end,and to 95.00 by 2010.Credit Suisse has raised its target for JP Morgan Chase from 35.00 to 42.00.

Conviction Buys

Goldman Sachs has added a number of stocks to its Conviction Buy list.Massey Energy has been added,with the coal sector being raised to attractive from neutral.Liz Claiborne was also put on the list,as was Research In Motion.

Ratings Report

Oppenheimer has maintained its outperform rating on Microsoft.Goldman Sachs has added chemical company Celanese to its conviction buy list.UBS has upgraded AT and T to a buy,with a price target of 31.00.It has also added Pfizer to its conviction buy list on valuation.

An Economist's View

Jan Hatzius,Chief Economist of Goldman Sachs,says 2009 is still going to be a tough year.We do have a stabilization in the second half,but unemployment will rise into the first half of 2010.We've got 10% positive growth in the second half of 2009.I am absolutely in favor of an activist approach,both from the Federal Reserve and a very aggressive stimulus from the new administration.My biggest concern for 2009 is that the feedback effect,the harm that can be done by the reining in of spending,will be more dramatic than people are anticipating,Mr.Hatzius cautioned.

Upgrades

Credit Suisse(CS) has upgraded Sunpower(SPWR) from neutral to outperform.Goldman Sachs(GS) has upgraded American International Group(AIG) to buy from hold.

Goldman Upgrades

Goldman Sachs(GS) has upgraded Murphy Oil(MUR) from hold to buy.It has also added The Mosaic Company(MOS) to its conviction buy list.

Goldman Upgrades

Goldman Sachs(GS) has added Lockheed Martin(LMT) to its conviction buy list.It has also upgraded Halliburton(HAL) to a buy from neutral.

Goldman Upgrades

Goldman Sachs(GS) has upgraded JC Penney(JCP) to buy from hold,and Medco Health(MHS) to buy from neutral.