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Technology Stocks : IBM -- Ignore unavailable to you. Want to Upgrade?

To: Chad Beemer who wrote (5417)	7/16/1999 9:29:00 AM
From: art slott	Read Replies (2) \| Respond to of 8218

Thursday July 15, 5:43 pm Eastern Time Goldman's Cohen says firm may raise its Dow target NEW YORK, July 15 (Reuters) - Goldman Sachs chief U.S. equity strategist Abby Joseph Cohen said Thursday the brokerage house would likely raise its 1999 target for the Dow Jones industrial average, given the economy's unflagging strength. The Dow, which was trading midday at about 11,155, has already topped Goldman's 10,300 target for the year. ''My sense would be that when we revisit those targets, we will be moving them higher,'' Cohen told CNBC. Citing reasons for the possible revision, Cohen, one of Wall Street's most prominent bulls, said the U.S. economy has been in ''a long-lasting economic expansion, generating profits and jobs.'' ''More importantly, we expect it to continue to perform well,'' Cohen said. ''We don't see any storm clouds on the U.S. horizon.'' Cohen said the firm would review the targets in early August along with its forecast for 1999 earnings growth for Standard & Poor's 500 companies, which Goldman now has pegged at 7-8 percent. Cohen said she did not see inflation fears developing. The interview came after the government reported that June's Consumer Price Index, which measures inflation at the retail level, was unchanged. Among suggested sectors for investment, Cohen mentioned ''mainline'' technology companies, which she said are still ''very reasonably priced.'' Cohen singled out International Business Machines Corp. (NYSE:IBM - news). Regardless of how Internet companies do, ''it will be these infrastructure-building companies that will do extremely well,'' Cohen said. Cohen also rated highly U.S. financial services companies, calling them ''extremely well managed'' and ''world leaders'' in return on equity and quality of management. Citigroup Inc. (NYSE:C - news) was one of her favorites, Cohen said. Cohen also said there was "good value" in small cap stocks. -------------------------------------------------------------------------------- More Quotes and News: Citigroup, Inc (NYSE:C - news)