As we’ve seen, predicting where the SPX will end a given year is a tough business – but that hasn’t stopped any of these analysts.
On March 1st, the day after the State of the Union Address (when the POTUS commented on the market’s gain) the SPX hit 2400 – exceeding the expectations of 16 out of 20 Wall Street analysts.
Note BAML raised their year-end target that same day.
It will be interesting to see how these targets get adjusted over time. The great thing about predicting the future when you work at a big firm is that you reserve the right to adjust your prediction anytime you want.
What a great business to be in!