S&P 500 Rally Shows Analysts Slow or Investors Sanguine
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The advance that pushed the Standard & Poor’s 500 Index to a record left companies trading closer to analyst price estimates than any time in at least seven years.
Shares in the index are 5 percent away from analysts’ mean forecasts after the benchmark gauge rallied 10 percent in the first quarter, according to data compiled by Bloomberg starting in 2006. That’s the smallest difference ever for the median stock and compares with the historical average of 14 percent.