Prudential's Acampora Sees Dow Jones Reaching 11,500 in 3rd-Qtr
Bloomberg News
March 11, 1999, 4:42 a.m. ET
Brussels, March 11 (Bloomberg) -- Ralph Acampora, Prudential
Securities Inc.'s director of technical research, said he expects
the Dow Jones Industrial Average to reach 11,500 in the third
quarter of this year, De Financieel Economische Tijd, a Belgian
newspaper, reported. He recommended investors buy market leaders,
which can often set higher prices even as inflation remains
subdued, adding ''my advice is to buy General Electric, go home
and relax.'' He also recommended Citigroup Inc., the world's
biggest financial-services company; Wal-Mart Stores Inc., the
world's biggest retailer; Amgen Inc., the world's biggest
biotechnology company, Pfizer Inc. and Merck & Co. Inc., the
biggest U.S. drugmaker, and energy stocks.
The Dow Jones Industrial Average rose 79.08 points, or 0.8
percent, to 9772.84 yesterday. Acampora said last December the
Dow could reach 11,500 in 1999.
(De Financieel Economische Tijd 3/11 30 and www.tijd.be) |
