BLBG:Goldman Keeps Overweight Recommendation on Commodities, Expects 20% Return
Goldman Sachs Group Inc. (GS) kept its overweight recommendation for commodities on a three, six and 12-month horizon as well as its 20 percent return forecast in the next year.
Demand growth is likely to be sufficient to tighten key markets, while progress in dealing with the Greek budget crisis and better economic data has improved sentiment around cyclical assets in recent days, the bank said.
Goldman reiterated its long-trading recommendations for Brent crude oil, U.K. natural gas, copper, zinc and soybeans.
To contact the reporter on this story: Chanyaporn Chanjaroen in London at cchanjaroen@bloomberg.net
To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net
