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WALL STREET ANALYSTS SHARPLY RAISE THEIR EARNINGS ESTIMATES; COWEN & COMPANY SAYS U.S. IS IN EARLY PHASE OF BULL MARKET AND ECONOMIC RECOVERY

WALL STREET ANALYSTS SHARPLY RAISE THEIR EARNINGS ESTIMATES; COWEN & COMPANY SAYS U.S. IS IN EARLY PHASE OF BULL MARKET AND ECONOMIC RECOVERY
 NEW YORK, April 2 /PRNewswire/ -- A new analysis of Wall Street earnings forecasts conducted by Cowen & Company reveals that analysts have raised their earnings forecasts sharply upward, signalling a positive turn in analysts' confidence in multiple sectors of the economy.
 Cowen said these revised corporate earnings forecasts, combined with analysts' more positive expectations for the overall economy, mean that the bull market has entered a second, earnings-driven phase.
 Stocks which are "economy sensitive," especially consumer cyclicals and some technology issues, will benefit the most, according to Cowen.
 Cowen & Company, a leading investment bank, is ranked number one in Institutional Investor magazine's annual poll for its research of the technology and health care industries.
 -0- 4/2/92
 /NOTE TO EDITORS: For copies of Cowen's "Investment Strategy" or further comment from the report's author, call the contact below./
 /CONTACT: Mary Ellen Wiedenbeck of Edelman Public Relations Worldwide, 212-704-8104, for Cowen & Company/ CO: Cowen & Company ST: New York IN: FIN SU: ECO


GK-TQ -- NY054 -- 4477 04/02/92 15:03 EST
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Publication:PR Newswire
Date:Apr 2, 1992
Words:192
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