Calyon Securities upgraded Goldman Sachs (GS) today from Underperform to Outperform. As shown below, the stock had been rated underperform by the analyst for the last six months. After a rally of nearly 90 points, the analyst now likes the stock enough to upgrade it not one, but two notches. While you can't fault someone for changing their opinion when the facts change, it's tough to give this upgrade too much weight considering the analyst's prior track record on Goldman.
click to enlarge
