On a day when one of our preferred stocks, Exxon, has hit the highest price since last June following an upgrade from Credit Suisse which upped its price target for the energy giant to $62 from $52, the energy sector has seen further tailwinds from none other than Goldman, whose strategist Alessio Rizzi writes that the bank continues ” to have a pro-cyclical tilt in our asset allocation” and following the poor performance of energy stocks in the past year, the bank thinks that “adding energy equity exposure is attractive at this juncture, especially considering our constructive commodity view.” To justify its bullish bias, Rizzi writes that since the start of the year, “markets have been risk-on and cross-asset performance has repriced the potential for reflation” which is in line with Goldman’s core views as it expects “pro-cyclical assets to outperform, supported by strong global growth and broadly dovish […]