Deutsche Bank analyst Matt O'Connor upgraded JPMorgan (JPM) to Buy from Hold and downgraded Goldman Sachs (GS) to Hold from Buy in a note to investors earlier today. JPMorgan's cost savings should exceed expectations by a wide margin, and the bank should benefit more than its peers from consumer loan growth over the longer term, wrote the analyst. Moreover, JPMorgan's stock has underperformed other large bank stocks since August 2012, noted O'Connor, who raised his price target on the shares to $53 from $48. The analyst identified Citigroup (C) as one of his top picks, as he believes that the bank should benefit from higher net interest margins, additional cost savings, and a rebound in the U.S. housing market. Meanwhile, Goldman Sachs may be facing increased uncertainty related to government regulations, as well as more uncertainty about how much cash the Fed will allow the company to return to shareholders, according to O'Connor. Also downgrading Goldman Sachs this morning was Citigroup analyst Keith Horowitz, who lowered his rating on the stock to Neutral from Buy. Horowitz cited the recent rally in Goldman shares as the main reason for the rating cut. In early trading, JPMorgan rose 0.97% to $46.82, Citigroup was unchanged at $42.80, and Goldman lost 0.31% to $144.51.