Goldman Upgrades Lehman Rating, Citing Attractive Valuation

When Don Corleone spoke of keeping his friends close, and his enemies closer, he had a vicious, backstabbing crew in mind. Maybe that's not so far off from Wall Street. It's a tough scene when analysts study their competitors, often playing out more like a soap opera with tit-for-tat maneuvers than straight analysis for the investors.

Goldman Sachs' banking sector analyst Richard Strauss raised his rating on fellow Wall Street bigwig Lehman Brothers(LEH Quote) to market outperformer from market perform -- a move that comes a couple of weeks after Lehman upgraded Goldman(GS Quote) to buy from market perform.

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