Wilson, one of the most vocal bears on Wall Street who correctly predicted this year’s selloff, sees the S&P 500’s fair value target at about 3,400 to 3,500, or as low as 11% below current levels. As interest rates and equity risk premiums start to reflect the growth slowdown more accurately, stocks will likely be driven by second-quarter earnings from here, he said.
Morgan Stanley Says US Growth Slowdown Worse Than Expected By Bloomberg
Morgan Stanley Says US Growth Slowdown Worse Than Expected
www.investing.com