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BOFA: Stocks are nearly as expensive as they were during the tech bubble (SPY, SPX, GSPC)

Bank of America Merrill Lynch is joining the chorus of strategists on Wall Street who are warning that the stock market is expensive. Savita Subramanian, an equity strategist at the bank, pointed to the median of the price-to-earnings ratio, which measures whether company stocks are fairly valued in relation to their earnings, for the stocks in the S&P 500 index. "The S&P 500 median P/E is currently at its highest levels since 2001 and suggests that the average stock trades a full multiple point higher than the oft-quoted aggregate P/E," she wrote in a note on Tuesday.
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BofA: Stocks Will Breeze Past All-Time Highs In 2013

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Savita Subramanian, Bank of America's Chief U.S. Equity Strategist, joins Citi's Tobias Levkovich this week in unveiling a 2013 target for the S&P 500. And she's bullish. Our 2013 year-end target of 1600 implies a 10% price return, ...

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Bank of America's Savita Subramanian is joining a bunch of other Wall Street strategists who are boosting their S&P 500 targets after realizing they were too cautious. Her new year-end target is 1,400, up from her initial target of ...

Institutions Have Been Dumping Billions Of Dollars Of Stocks All Year, But Now The Selling Is Really Accelerating

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BofA: 'The Market Is Far From Overvalued' Based On Almost Every Popular Metric

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