Zacks' Voice of the People Highlights Opportunities With Mobile TeleSystems, Allegheny Technologies and Rockwell Collins

Mar 15, 2011, 09:30 ET from Zacks Investment Research, Inc.

CHICAGO, March 15, 2011 /PRNewswire/ -- Zacks highlights commentary from People and Picks Trader "JohntheWizard".


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Roubini Global Economics (RGE) reported a target of 1350 for the S&P500

March 15, 2011 - RELATED TICKERS: Mobile TeleSystems (NYSE: MBT), Allegheny Technologies (NYSE: ATI) and Rockwell Collins (NYSE: COL).

Gina Sanchez and Ibrahim Gassembe reported on March 01 on the Roubini Global Economics (RGE) site a 1350 target for the S&P500 and an EPS Estimate of $94.

When you data mine the Zacks' Dbases for the current S&P500 stocks, based on the quarterly reports that completed their fiscal quarters in October, November, and December last year, you can calculate an EPS of $2.5/share with a $36/share share price on December 31 (=Total Market Cap of S&P500 divided by Total Number of Shares, both averaged over Q4-2010). On December 31, the S&P500 share price corrected by its divisor equaled the Index value and was 1257.6. Hence, the S&P500 target of 1350 would correspond to an equivalent EPS dollar value of {(1350/36}*$2.5 = $93.8 which equals RGE's estimate of $94.

The Index value on February 28 was 1327.2, so that a target of 1350 is a conservative bullish shot, probably as good as yours and mine. But I believe you can do better than that. The EPS of the non-financials today beats the corresponding EPS of the historical S&P500 for these peaking non-financials of four years ago by 1%, whereas the market valuation (P/E) then was 13% higher. That tells me there is an upside potential of 15% in terms of valuation for these non-financials in the S&P500 (410 stocks).

I see this bullish potential despite the present oil peaks due to political unrest in the Middle East and despite Last Friday's tragic earthquake in Japan, with estimated material and opportunity costs of the order of $10 Billion that seem to me underestimated at least by a factor of five to ten.        

The most recent picks by «JohntheWizard» are:

A buy rating on Mobile TeleSystems (NYSE: MBT),

a buy rating on Allegheny Technologies (NYSE: ATI) and

a buy rating on Rockwell Collins (NYSE: COL).

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