Many will call this the ultimate contrarian tell, in fact, most will. But then doesn’t that mean that the real contrarian would take this as a positive? I’m talking myself in circles here.
From Bespoke Investment Group:
Analysts are more bullish heading into the current earnings season than they have been at the start of any other earnings season since the recession began. Over the last four weeks, analysts have raised forecasts for 638 companies in the S&P 500 and lowered forecasts for 391. This works out to a net of 247, or 16.45% of the index.
Take it for what its worth, folks. Or not.