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0.General, 1.Market Observations, 2.Economic forecasts

24 Jan 2013 (AFR) – Suddenly, the ASX pundits change tack

(24 Jan 2013, AFR, p23, Peter Wells)

‘There seems to be a downpour of outlook notes from equity strategists at the moment. What I find most curious is that, despite the first month of the year not being over, some are already ratcheting up their year-end S&P/ASX 200 forecasts.’

‘Citigroup a couple of weeks ago added an extra few hundred points to its target (to 5200). I’ve also found out this morning, ex post facto, that Goldman Sachs a fortnight ago bumped up its target to 5000 from 4800. Now that I’m aware of The Squid’s new numbers, this takes the average year-end target for 2013 to 4628.6 points, based on the numbers of 11 major brokers. The index is hovering around 4800.’

Read more at AFR.com (might need AFR login access)

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