- Home
- >
- Daily Accents
- >
- BofAML’s S&P 500’s 2017 Target Raised on Sentiment and Technicals
BofAML's S&P 500’s 2017 Target Raised on Sentiment and Technicals
Rating:
Loading...BofAML strategists including Savita Subramanian raise their S&P 500 target to 2,450 from 2,300 to reflect increasing likelihood stocks entering typical later stages of bull market during which fundamentals take back seat to sentiment and technicals, they write in note.
* “We think the market still has the potential to move higher
as investors capitulate into equities:”
* “Great Rotation” out of fixed income into equities is yet
to happen
* Expects the market to overshoot its real value
* Typically, in later stages of a bull market, prices can
become significantly overvalued relative to intrinsic
fair value
Relatively high valuations for U.S. stocks may be justified because companies are less dependent on buildings, equipment and other tangible assets than they were in the past, according to Jeffrey Saut, Raymond James & Associates Inc.’s chief investment strategist.
Varchev Traders Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
