UPDATE: J.P. Morgan Color on Goldman Sachs Upgrade

J.P. Morgan, which upgraded shares of Goldman Sachs GS, is providing some color on the stock. “We had a group meeting with GS Vice chairman and Co-CEO of GS Intl. Michael Sherwood, and conclude the firm's strategy is clear and recent negative newsflow impact on franchise over-discounted,” J.P. Morgan writes. “Based on our own analysis we see material re-leveraging potential. Hence, we upgrade GS from N to OW.” Goldman Sachs closed Friday at $138.66.