This just in--> Abby ups forecast, recent price in PC share slump SILLY-George Cohen
Abby Joseph Cohen
''We expect 1999 and 2000 to be years of ongoing profit
expansion, with better aggregate gains than 1998, which was
disappointing,'' Cohen said in a report to clients. ''Our stock
price targets have been revised accordingly.''
Abby Cohen
Abby Cohen raised her forecast for the S&P 500 Index, saying
the benchmark index could reach 1325 this year instead of the
1275-1300 she previously estimated.
Cohen, who has been among the most accurate forecasters in
recent years, has said stocks are headed higher, although in
January she advised clients to cut their equity exposure to 70
percent from 72 percent.
Today, the strategist said profit growth this year and next
will be helped by ''less difficult global conditions.''
Energy companies, for example, should swing to a profit in coming
quarters after losing money last year, and semiconductor
equipment and communications services companies also will see
earnings improvements...
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George Cohen-Chief Investment Office-Cohen,Klingestein & Marks.
The recent slump in computer shares was a typical overreaction to temporary slowdowns, given the companies' potential for ''powerful long-term growth rates,'' said George Cohen, chief investment officer at Cohen, Klingenstein & Marks, which oversees about $3 billion. ''It's really very silly, but we see this at least once a year.''
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