From CBS MarketWatch:
Widely-followed market strategist Abby Joseph Cohen of Goldman
Sachs said that Asia's impact on U.S. economic growth will be muted,
and sees opportunities in shares of computer hardware and software
makers, drug concerns, and credit-card companies.
In a conference call with clients, Cohen said she believes the U.S. stock market is undervalued by 5 percent to 8 percent. She sees the Dow reaching 9,300 by year-end, about 9 percent above current levels. For the S&P 500 index, her price target is 1,150 by year-end and 1,250 in the next 12 months, about 6 percent and 15 percent higher, respectively, than present levels.
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