Corporate America’s Profit Engine Is Just Starting to Rev Up
- Wall Street analysts lift earnings forecasts for S&P 500 firms
- ‘More stocks are beginning to see better times’: BI’s Casper
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Don’t belittle Corporate America’s famous profit engine.
Equity strategists are boosting earnings forecasts for the S&P 500 Index over the coming year faster than they are marking them down, pushing a key indicator tracking the momentum of analyst revisions well off its November nadir. After hitting negative 70% late last year, this metric — which focuses on forward earnings-per-share over 12 months — is closer to positive territory at minus 28%, according to data compiled by Bloomberg Intelligence.