Matt Peron, head of active equity at Northern Trust Corp. in Chicago, said the economy will avoid a recession.

"Estimates will come down a fair amount, but I don't think they'll fall to something like an $85 level," he said in a Sept. 29 interview. His firm manages $684 billion. "If they don't, there'll be a relief rally or the market will at least grind higher when it realizes it's been pricing in too low of a number."

 

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