Goldman Reiterates Bullish Call on Stocks, Citing Growth

Stocks will continue to rally as the bull market in equities moves into a new phase driven by earnings growth rather than expanding valuations, according to strategists at Goldman Sachs Group Inc.

Equities will produce more moderate returns with lower volatility in the second phase of the bull market, according to Peter Oppenheimer, Goldman’s chief global equity strategist, who reiterated his bullish stance on stocks. Oppenheimer said in a March 2012 report that the prospects for returns from equities versus bonds “are as good as they have been in a generation.”