NEW YORK ( TheStreet) -- Regions Financial (RF - Get Report) has replaced Wells Fargo (MS) on the "conviction" buy list at Goldman Sachs, according to a report from Goldman's banking sector analysts published Monday.
Both banks have had a strong run this year, with Wells shares gaining 25% so far in 2012 versus a 71% rise for Regions ahead of Monday's open. By contrast, the SPDR KBW Bank ETF has gained 19%.
However, Goldman analysts see a better opportunity for further gains at Regions as it closes redundant branches and possibly looks to spin off its Midwestern banks.
"While both of these will take time to complete, if we were to assume
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