Goldman Sachs Sees S&P500 at 1450 in 2011. EPS of 94.00. Addition To My Post Yesterday

[ 0 ] December 2, 2010 |

Yesterday, I posted that Citigroup raised their earnings target for the S&P 500 to 94.50 in 2011, which we believe can translate to a gain in the S&P to at least 1500, or 25%.

Today, you will see below that afterwards, Goldman Sachs raised their estimate to 94.00 for 2011, and 104.00 for 2012, above the 102.00 estimated by CITI for the same year.

I still believe that the magic number we mentioned yesterday of $100.00 for 2011 Earnings ( annualized) will be achieved. This can put the S&P and DOW at or near the all time highs.

As we have been saying on this blog for a few months now, the Economy has coinsistently been getting better, and Gridlock was and is very important for all coming into place now and for the future. During some past posts we mentioned that we went long the market and good stocks at the beginning of August and afterwards, and have “bot the dips” throughout the period.

We still believe the risk is not being long.

BK

Goldman Sachs Sees S&P 500 Rising to 1,450 Through December 2011
2010-12-02 12:52:42.89 GMT

By Rita Nazareth
Dec. 2 (Bloomberg) — The Standard & Poor’s 500 Index will
rise more than 20 percent to 1,450 through the end of next year
as the economic recovery accelerates, according to Goldman Sachs
Group Inc.
The firm also forecast S&P 500 earnings-per-share of $84 in
2010, $94 next year and $104 in 2012, David Kostin, the U.S.
investment strategist for the firm, wrote today in a note to
clients.
Banks, technology makers and energy producers will generate
half of the S&P 500’s earnings-per-share next year, leading
these industries to outperform the market.

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To contact the reporter on this story:
Rita Nazareth in New York at +1-212-617-8908 or
rnazareth@bloomberg.net

To contact the editor responsible for this story:
Michael Regan at +1-212-617-7747 or
mregan12@bloomberg.net

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Category: Economics, Markets and Trading