Birinyi Diverges From Einhorn Short Forecasting S&P 500 at 1,820 – Bloomberg 10-31-13

Salient to Investors:

Laszlo Birinyi at Birinyi Associates said the S&P 500 Index has a 51 percent chance of rising to 1,820 by February 2014 and a 75 percent chance by April 2014.

David Einhorn at Greenlight Re said he has become more conservatively positioned, and continues to be short companies with conventional valuations, rather than speculative story stocks that have caused excessive pain for other short sellers.

The average forecast of 19 Wall Street strategists is for the S&P 500 to reach 1,718 by year-end, with a range of 1,440 to 1,800.

The S&P 500’s P/E ratio is at 16.7.

Read the full article at  http://www.bloomberg.com/news/2013-10-31/birinyi-says-s-p-500-will-rise-3-to-1-820-in-next-three-months.html

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