By Steve Goldstein
LONDON (MarketWatch) -- Goldman Sachs said it's still recommending a pro-cyclical stance across industrials and basic materials companies it covers. Top ideas are Cummins Engine (CMI 48.05, +1.11, +2.36%) , Albemarle (ALB 38.02, -0.07, -0.18%) , Potash (POT 118.39, +6.19, +5.52%) , Dow Chemical (DOW 31.00, +0.52, +1.71%) , Schweitzer-Mauduit International (SWM 73.23, +1.79, +2.51%) , U.S. Steel (X 57.57, -0.26, -0.45%) , Chicago Bridge & Iron (CBI 21.17, +0.51, +2.47%) , Textron (TXT 18.68, -0.36, -1.89%) and Spirit Aerosystems (SPR 21.15, +0.44, +2.12%) . It added 3M (MMM 82.50, -0.52, -0.63%) to its conviction buy list on hopes for a turn in U.S. residential construction and potential for accretive M&A, while it's still cautious on defense, and cut Lockheed Martin (LMT 77.00, -0.65, -0.84%) to conviction sell from neutral on high platform exposure and potential delays in the joint strike fighter program and Louisiana-Pacific (LPX 7.56, +0.28, +3.85%) to conviction sell from neutral on valuation. |
