Dow 15,000 in 2008?

Our model suggests that the market is undervalued by 25% today. With the economy picking up steam in 2008, our forecast is that the Dow moves up as well and our year-end 2008 forecast is 15,000, with the S&P 500 at 1625.

Once recession fears prove unfounded, US equities will soar. Those who maintain their appetite for risk will be richly rewarded sooner than they think.

~An optimistic forecast from economists Brian Wesbury and Robert Stein at First Trust Portfolios