UPDATE: Goldman Sachs Upgrades Worthington Industries; Raises PT

According to a research report published earlier today, Goldman Sachs has upgraded Worthington Industries WOR from Sell to Neutral, and has increased PT from $16 to $18. In the report, Goldman Sachs said, “We have added the company's new Engineered Cabs business to our estimates. This segment is accretive to earnings and, combined with higher income from JVs, raises our 2012-normalized EPS estimates an average of 13%. We are more positive on WOR as it enters the strongest part of the year for demand and has growth opportunities organically and through M&A. Since being added to the Sell List on September 11, 2011, WOR is up 23.2% versus the S&P up 16.9%. In the last twelve months, Worthington is down 6.0% versus the S&P up 6.0%.” Worthington Industries closed Friday at $19.18.