is it time for goldman to hand off their longs to the bagholders? From David Kostin We are raising both our 2011 and 2012 S&P 500 earnings estimates by $2 per share to $96 and $106, reflecting annual growth of 14% and 11%, respectively. We boost our year-end 2011 target to 1500 representing a potential total return of 21% including the 2% dividend yield. Our 3- and 6-month interim targets are 1325 and 1400, respectively. A re-accelerating US economy will drive 8% sales growth and explains our pro-cyclical recommendations. Focus on stocks with high beta to both the US economy and the stock market and firms with rising return on equity (ROE).
Well....since Abby J didn't put this out maybe not but seeing as GS is pretty infamous for getting very bullish near tops ($200 Oil Mega Spike - LOL) we might be close. GS's conviction list has nothing but Buy's! But then there's the Fed, that blasted Fed. They can't let the market fall because it creates a "wealth effect." If people's 401(k)'s tumble the grand plan falls apart. Trade what happens.