earnings estimates: Hold your horses, says our call of the day, from Mike Wilson, chief investment officer of Morgan Stanley, who tells Market Watch in an interview that investors should wait for better times to jump into this stock market, according to Market Watch. And they are coming. Despite some backpedaling on those comments, there's still plenty of enthusiasm out there for equities. We're not looking for the bottom to fallout like last year, but I do expect a 10% correction in the next three months, said Wilson, whose end-year S&P target is 2,750. Once those estimates come down, stocks will look a lot more attractive. One reason is that earnings estimates are still 5% to 10% too high, a factor which will weigh on stocks in the next 6 months, he says.
(news.financializer.com). As
reported in the news.
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