Stocks 'still do not look cheap': Goldman Sachs

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(June 13): A seemingly cheap stock market may not yet be cheap enough given rising risks to corporate profits from red-hot inflation and rising interest rates, Goldman Sachs warns, Yahoo Finance reported.

"Despite the 18% year to date S&P 500 decline, equity valuations remain far from depressed," Goldman Sachs Chief U.S. Equity Strategist David Kostin wrote in a new note to clients. "Valuations appear more attractive in the context of interest rates, but still do not look cheap," Yahoo Finance said.

Kostin added that analyst estimates for corporate earnings still look too high while recent news flow from companies has been concerning, Yahoo Finance said.

Siow Chen Ming