We're a little more optimistic, I would say, than most people on the Street. S&P's equity analysts - we've got 65 of those who do cover about 1,500 stocks of the S&P 500. Using their target prices for the full year, we think we could see about a 14% price appreciation in the 12 months ahead. So we've got the target price of 1685 for the S&P 500 from an analytical standpoint. And our investment policy committee is not too far behind. We have a target of 1650. So both targets show a small double-digit advance for '08.
~ Sam Stovall, chief investment strategist, Standand & Poor's Equity Research, MarketWatch video, January 8, 2008
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