EPS Estimates For 2011 Overly Optimistic: Bernstein

Upward revisions to earnings estimates for the S&P 500 have been overly optimistic, said Adam Parker, chief investment strategist at BernsteinResearch, in a report Tuesday. Consensus estimates for 2010 imply 30% growth in earnings per share to $82 a share in 2010, and 18% growth to $97 a share in 2011. In contrast, Parker predicts 25% EPS growth for 2010, to $79 a share, and 9% growth in 2011 to $86 a share – MW

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