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Goldman's Cohen Sees S&P 500 Fair Value at 1400
Topics:Earnings | Nasdaq | NYSE | Stock Picks | Stock Market
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The fair value of the Standard & Poor's 500, the broadest gauge of major U.S. stocks, is at 1,400, based on a 6 month to 12 month view, Abby Joseph Cohen, Goldman Sachs' senior investment strategist, said on Monday.
"Our strategy team's sense is that in 6-12 months, fair value in the S&P 500 is on the order of 1,400," she told CNBC television. (See video for her comments and other discussion).
The S&P 500 entered a bear market last week, falling more than 20 percent from its Oct. 9, 2007 record close of 1,565.15. On Friday the index ended at 1,239.49.
Copyright 2008 Reuters. Click for restrictions.
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