Stocks Have Room to Run: Abby Joseph Cohen

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State of the Bull Market: Abby Joseph Cohen Says Stocks Have Room to Run

In an interview with CNBC, Abby Joseph Cohen, who is Chief Market Strategist for Goldman Sachs, says that the stock market is not ahead of itself.

Cohen told CNBC, "The stock market is almost always a discounting mechanism that almost always moves in advance of the economy, but we don't think it has moved too far at this point."

Ms. Cohen, who is a former Federal Reserve economist, puts a price target on the S&P 500 of 1250-1300 for 2010. Based on Tuesday’s close, this would represent additional upside of between 9.6% and 14% from here.

Cohen also says a double-dip recession is less likely going forward.

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