Goldman Bullish on Barrick and Gold Price

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The analysts are also very bullish on the price of gold. They are calling for average prices of $910 an ounce in 2008 and $870 an ounce in 2009.

With the potential backdrop of a U.S. recession, Goldman Sachs analysts are recommending that investors think defensively when it comes to investing in commodity stocks. They prefer sectors that have little sensitivity to the U.S. consumer, namely agriculture, gold and specialty packaging.

Their absolute top pick in the materials space is Barrick Gold Corp. (ABX), which they rate a "buy" with a target of $66 a share....

The analysts are also very bullish on the price of gold. They are calling for average prices of $910 an ounce in 2008 and $870 an ounce in 2009. They also figure there is upside risk to that forecast should there be an extended slowdown in global GDP this year.

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