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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (45033)	4/4/2001 12:49:31 PM
From: michael97123	Respond to of 70976

FWIW Wednesday April 4, 12:42 pm Eastern Time Goldman's Cohen remains bullish on S&P500 (UPDATE: Adds no comment in final paragraph) WASHINGTON, April 4 (Reuters) - Goldman Sachs stock market guru Abby Joseph Cohen said on Wednesday she continued to believe stocks are undervalued as measured by the Standard & Poor's 500 (^SPX - news) basket of stocks. ``We believe the decline in share prices ... has gone well beyond what the fundamentals suggest,'' Cohen told the World Economic Forum's U.S. meeting being held in Washington. Cohen is on record as predicting the S&P index, which was at around 1,114 at midday Wednesday, will hit 1,650 by the end of the year. Participating in a panel discussion on the outlook for the U.S. economy, she said the stock market was currently overshadowed by ``risk aversion.'' Investors were basing investment decisions on worst-case scenarios and ``that's when opportunities are the best,'' Cohen said. Talking with reporters afterward, Cohen declined to respond to questions about whether she was sticking to her 1,650 target, saying only that she expected the S&P500 to be ``higher.''