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Goldman Sees 11% Upside in S&P 500 After an ‘Emotional’ Selloff

  • Fair value for the Standard & Poor's 500 Index is 2,100
  • Fed won't `apply brakes' quickly, recession not likely: Cohen
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Goldman’s Cohen Says Investors Showing Emotional Response

The plunge in U.S. stock markets are an “emotional response” obscuring expansion in both the American economy and corporate profits, said Abby Joseph Cohen, president of Goldman Sachs Group Inc.’s Global Markets Institute.

The fair value for Standard & Poor’s 500 Index is 2,100, Cohen said. The benchmark last closed above that level on December 1 and has fallen 10 percent since, after turbulence in China’s stocks and currency spurred a global market rout.