Goldman Sachs may take on more risk, but it manages it better, according to a JP Morgan Cazenove report published on Tuesday in which analysts upgraded Goldman to “overweight” from “neutral.”

“GS [Goldman] takes more risk than others based on absolute VAR, but it is best in class managing each unit of risk in our view,” analysts at JP Morgan Cazenove noted in their July 6 report.

The analysts did not change their price target for Goldman which is at $175 a share. On Tuesday, Goldman shares were changing hands at $132.26 a share. Their 52-week high is $193.60.

At the same time, the report on Tuesday lowered Deutsche Bank to “underweight” from “neutral.” The price target for the German banking firm’s shares were lowered to 46 euros from 56 euros. On Tuesday, Deutsche’s shares were changing hands at just 45 euros each.

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