Goldman Sachs (GS) upgrades EXCO Resources Inc. (NYSE: XCO)

Goldman Sachs (NYSE: GS) upgraded the shares of oil and natural gas exploration firm EXCO Resources Inc. (NYSE: XCO) from Neutral and put them on its on Americas Buy list.

Goldman Sachs analysts said that the stock's recent decline provides, "another good entry point for shares of a company with high quality Haynesville Shale acreage, exposure to Marcellus Shale drilling and a potential joint venture in the Marcellus."

Shares of the stock were up over 3.5% during pre-market trading.