“Investor Jeremy Grantham Says Stocks Are in a Bubble. Is He Right?”
January 19, 2021
“Grantham’s forecast is an outlier. More common now are views like one presented this past week by UBS chief U.S. stock strategist Keith Parker. The S&P 500, he reckons, will rise another 5% or so during just the first half of this year. It will be propelled by vaccinations and government stimulus, plus upside earnings surprises, as cost cuts and rebounding revenues fatten profit margins.
Results now rolling in for the fourth quarter could beat earnings estimates by 10%, according to Parker. He recently asked his firm’s analysts for their top stock picks for this year. Among them: Walt Disney (DIS); retailer Five Below (FIVE); Procter & Gamble (PG); Snap-On (SNA), the tool maker; and Alphabet (GOOGL)…”