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The stock market's steady rally is forcing even bullish market forecasters to play catch-up and raise their targets. Ed Yardeni of Yardeni Research late Wednesday hiked his year-end target for the S & P 500 to 5,800 from 5,400. This week's report repeated Yardeni's forecast that the S & P 500 can reach 8,000 by the end of the decade. According to the CNBC Market Strategist Survey , the average year-end target from major banks is 5,464, with a median forecast of 5,600. The S & P 500 is higher by 18% year to date, and nearly 28% over the past 12 months.
Persons: Ed Yardeni, We've, Yardeni, CJ Lawrence, EF Hutton Organizations: Yardeni Research, CNBC Market, Survey, yearend, Nvidia, Prudential Equity Group, Deutsche Bank's, Prudential, Bache Securities, EF
TipRanks recognized Wall Street's 10 best analysts in the consumer goods sector for identifying the best investment opportunities. TipRanks used its Experts Center tool to identify the pros with a high success rate, and analyzed each stock recommendation made by analysts in the consumer goods sector over the past decade. TipRanks' algorithms calculated the statistical significance of each rating, the analysts' overall success rate and the average return. Top 10 analysts from the consumer goods sectorThe image below shows the most successful Wall Street analysts from the consumer goods sector. Mark Astrachan - Stifel NicolausMark Astrachan has the 10th spot on the list, with a success rate of 65%.
Seven Chinese firms including Chanson International (CHSN.O) and Hongli Group (HLP.O) have launched public offerings in March to raise a combined $82.3 million, compared with just four in the preceding two months. That will "reduce regulatory uncertainty" said Mandy Zhu, head of China Global Banking at UBS, and standardise domestic firms' international listings. "But we will abide by Chinese rules and carry out all follow-up work cooperation if necessary." Earlier in the week, steelmaker Hongli Group, food grain manufacturer YanGuFang International Group (YGF.O) and wheelchair-maker Jin Medical International listed in the U.S, also receiving tepid responses from investors. Reuters reported on Thursday that London is also courting new Chinese listings.
The source said Credit Suisse has been making efforts to reclaim the First Boston brand since retiring it years ago. It was unclear whether Credit Suisse would be happy to co-exist with the other First Boston brands. When contacted by Reuters, FirstBoston.net said via email that it was not affiliated with Credit Suisse and declined comment on whether Credit Suisse had contacted it. Another company with First Boston branding is First Boston Advisors, an investment banking advisory business previously branded as Methuselah Advisors. McShane said that reviving First Boston would probably see Credit Suisse "try and brush over that the brand was abandoned."
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