Goldman Sachs Upgrades Several Retailers, Including Gap, Sears

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Retailers were up across the board in morning trading after

Goldman Sachs

upgraded its ratings on a number of companies in the industry.

The firm added

Gap

(GPS) - Get Report

,

Guitar Center

(GTRC)

,

Federated Department Stores

(FD)

and

Target

(TGT) - Get Report

to its U.S. recommended for purchase list, upgrading the companies from market outperformer ratings.

Sears

(S) - Get Report

was also added to the list and upgraded from market performer.

Goldman Sachs upgraded

Jones Apparel

(JNY)

,

Phillips-Van Heusen

(PVH) - Get Report

,

TJX

(TJX) - Get Report

,

Tommy Hilfiger

(TOM)

and

Nautica Enterprises

(NAUT)

to market outperformer ratings, from market performers.

Leading the way in morning trading was Gap, which rose $3.31, or 12.7%, to $29.31 in recent

New York Stock Exchange

trading. Federated Department Stores rose $2, or 5.3%, to $40, and Sears gained $2.02, or 6%, to $35.70 on the Big Board. Target jumped $2.63, or 8%, to $35.38. TJX rose $1.50, or 5.5%, to $29, and Tommy Hilfiger was up $1.25, or 10.9%, to $12.75, also on the Big Board.

Making modest gains were Phillips-Van Heusen, up 38 cents, or 3.2%, to $12.19 and Jones Apparel, up 31 cents, or 0.9%, to $36.81.

Guitar Center was up 88 cents, or 6.4%, to $14.63, and Nautica Enterprises gained $1.44, or 9%, to $17.50 on the

Nasdaq

.