Merrill: Boosts S&P 500 target
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Merrill: Boosts S&P 500 target
9:06am 10/05/04
Merrill's 12-mo. S&P 500 target up to 1,225 ($SPX)
By Tomi Kilgore
NEW YORK (CBS.MW) -- Merrill Lynch's latest 12-month target for the S&P 500 Index ($SPX) is 1,225, up from September's 1,185, based on the firm's increased total return outlook from its proprietary "sell side indicator" model.
Chief quantitative strategist Richard Bernstein said the "sell side" models 12-month expected total return for the S&P 500 is now 7 percent, which he said was "encouraging" given that it was the highest expected return in some time.
Bernstein left his recommended asset allocation unchanged, however, at 45 percent stocks, 45 percent bonds and 10 percent cash, "because estimate revisions are starting to gain significant downward momentum." The models may become less bullish, Bernstein said, if that trend continues.
Merrill's 12-mo. S&P 500 target up to 1,225 ($SPX)
By Tomi Kilgore
NEW YORK (CBS.MW) -- Merrill Lynch's latest 12-month target for the S&P 500 Index ($SPX) is 1,225, up from September's 1,185, based on the firm's increased total return outlook from its proprietary "sell side indicator" model.
Chief quantitative strategist Richard Bernstein said the "sell side" models 12-month expected total return for the S&P 500 is now 7 percent, which he said was "encouraging" given that it was the highest expected return in some time.
Bernstein left his recommended asset allocation unchanged, however, at 45 percent stocks, 45 percent bonds and 10 percent cash, "because estimate revisions are starting to gain significant downward momentum." The models may become less bullish, Bernstein said, if that trend continues.
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