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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: porcupine --''''> who wrote (65)	3/17/1998 5:33:00 PM
From: porcupine --''''>	Read Replies (2) \| Respond to of 1722

Goldman's Cohen sees stock indices rising in 1998 Tuesday March 17, 12:06 pm Eastern Time NEW YORK, March 17 (Reuters) - Goldman Sachs strategist Abby Joseph Cohen said she expects U.S. stocks to rise even higher in 1998 than she had previously forecast. Cohen, one of Wall Street's most respected forecasters, said she expects the Standard & Poor's 500 Index to hit 1150 by the end of 1998, up from her previous target of 1075. The Dow should rise to 9300 at the end of 1998, up from a previous target of 8700, and the Nasdaq should hit 1900, up from 1776. The new targets come as Cohen rolled out 1999 earnings estimates for the first time, according to Gabrielle Napolitano, vice president of investment research for Goldman Sachs & Co. In 1999, Goldman sees operating earnings per share for the 500 companies that make up the Standard & Poor's 500 index at $55 a share, up 8.9 percent from 1998 earnings of $50.50 a share. 1998 growth estimates assume EPS growth of 7.9 percent over 1997. This year, the Standard & Poor's 500 companies earned $46.81 a share on a preliminary basis. The number is preliminary because three of the companies have yet to report, Napolitano said. Cohen is the chief U.S. strategist for Goldman.