Goldman Sachs has made several key upgrades and downgrades this morning in the utility sector and in the oil patch. While the utility sector was raised to attractive, some of the other calls seem more mixed on the surface in the oil patch.
Transocean (NYSE: RIG) was one of the few real upgrades as shares were raised to Buy from Neutral. Patterson-UTI (NASDAQ: PTEN) and Halliburton (NYSE: HAL) were cut to Neutral, while Oil States International (NYSE: OIS) was cut to Sell. Nabors Industries (NYSE: NBR) was cut to Sell from Neutral. Diamond Offshore (NYSE: DO) and FMC Technologies (NYSE: FTI) were both upgraded, but only to Neutral from Sell.
Westar Energy (NYSE: WR) and NRG Energy (NYSE: NRG) were both raised to Buy, while NV Energy (NYSE: NVE) was cut to Neutral.
Jon C. Ogg
June 25, 2009
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