Abby Cohen Still Thinks S&P Fair Value is 1250-1300 (Video), Likes Technology, Commodities and Sees M&A or Share Repurchases With Cash On Hand

Goldman strategist Abby Joseph Cohen is bullish on the market. Last week she said the recession's been over for several months and thinks fair value for the S&P is between 1,250 and 1,300. With the S&P at 1,109, that would mean we are 12%-17% undervalued. She likes technology from business investment, commodities from improved global demand and sees share repurchases/m&a activity from cash on hand. She was on Bloomberg radio last Wednesday. Cohen's call for 1250-1300 is unchanged from her view in December, 2009 (videos). Maybe she can get Goldman Sachs ($GS) over its 200DMA while she's at it. If she's right a break above 1,150 would probably be an area to get long in size with put protection to $1,300 (not a recommendation). Until then... Ride the double dip (where the black swans at?)!

(Courtesy of

Bloomberg Article: Abby Cohen Sees S&P 500 Fair Value at 1,250 to 1,300 (Update1)

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