Monday, April 1, 2013

S&P move to record catches analysts off-guard.

 Shares of companies in the index are trading just 5% shy of analyst estimates - the closest in 7 years, and against a typical gap of 14%. Bulls say the narrowed gap shows the sell-side has been caught flat-footed and will quickly move to ratchet estimates higher, providing more impetus for the rally. Bears say the slowness of analyst response is another sign stocks have gotten ahead of themselves.