Remember they were tripping over each other to raise their year end s&p predictions.....well let's hope the spy can stay strong because over 90% of these predictions will be awfully wrong once the s&p drops below 5000!!!!! June 17th 2024 S&P 500 Will Rise To 5,600 By End Of 2024 As Average Stock Catches Up, Goldman Says The David Kostin-led Goldman group upped their S&P target from 5,200 to 5,600 in a weekend note, indicating more than 3% from the leading stock indicator’s 5,430 price Monday. The forecast makes Goldman the most bullish sell-side strategists on Wall Street, with the 5,600 target matching UBS and BMO Capital Markets, according to Bloomberg. Though Goldman only anticipates a modest rally over the second half of 2024, its new target is almost 20% higher than its 4,700 target for the end of 2024 set in November, with the S&P up about 930 points in the interim, exactly offsetting the bullish tilt. https://www.forbes.com/sites/dereks...2024-as-average-stock-catches-up-goldman-says/ May 28th 2024 May 28 (Reuters) - UBS Global Research raised its year-end target for the benchmark S&P 500 index to 5,600 points on Tuesday, marking the highest forecast among major brokerages. The upgraded target reflects an upside of about 5.6% to the index's last close of 5,304.72. It had earlier forecast a target of 5,400. https://www.reuters.com/business/fi...s-year-end-target-street-high-5600-2024-05-28/ May 15, 2024 With the S&P 500 Index setting all-time highs, BMO Capital Markets is predicting even more gains through the end of 2024. Brian Belski, the firm’s chief investment strategist, lifted his year-end forecast on the US equity benchmark to 5,600, the highest among Wall Street soothsayers tracked by Bloomberg — and roughly 7% above Tuesday’s closing level. The upgrade comes just two months shy of Belski reiterating his call for a drop to 5,100 on concern that the stock market had run up too far, too fast. https://www.marketwatch.com/livecov...t-bullish-on-wall-street-Y7eQfnlcZ5xoZd8oBfHO June 16, 2024 Top Wall Street bear surrenders to bull market and flips forecast, now seeing the S&P 500 soaring to 6,000 by year-end BYJESSICA MENTON, NATALIA KNIAZHEVICH AND BLOOMBERG June 16, 2024 at 6:29 PM EDT With the S&P 500 Index setting record after record, Evercore ISI is predicting another double-digit rally through the end of 2024. Julian Emanuel, the firm’s chief equity and quantitative strategist, raised his year-end forecast on the S&P 500 Index to 6,000, the highest among major equity strategists tracked by Bloomberg — and roughly 10% above the gauge’s closing level on Friday. That’s an about face from one of Wall Street’s most prominent bears who previously expected the gauge to finish the year at 4,750. https://fortune.com/2024/06/16/stock-market-outlook-evercore-sp500-6000-wall-street-highest-forecast/ May 20th 2024 Morgan Stanley’s Michael Wilson now sees the S&P 500 rising 2% by June 2025, a major about turn from his view that the benchmark will tumble 15% by December. The strategist — whose bearish 2023 outlook failed to materialize as markets kept rallying — finally gave in and boosted his target for the S&P 500 to 5,400 points from 4,500. That catapults his forecast from among the lowest on Wall Street to one that projects a fresh record for the index. https://www.investmentnews.com/indu...minent-bear-turns-bullish-on-us-stocks-253536 April 9th 2024 Wall Street just gave its highest S&P 500 forecast yet The high-water mark for stock projections in 2024 has once again moved up. In a note to clients on Monday, Wells Fargo's head of equity strategy, Christopher Harvey, boosted his year-end target for the S&P 500 (^GSPC) to 5,535 from 4,625. This marks the highest call for the S&P 500 by year-end among strategists tracked by Yahoo Finance and reflects about 6% upside from where the benchmark average opened on Monday. https://finance.yahoo.com/news/wall-street-just-gave-its-highest-sp-500-forecast-yet-164148688.html February 27, 2024 Barclays believes the S&P 500 could hit 6,000 soon — and it's not alone As the S&P 500 recently surpassed 5,000 and continued to hit new records, strategists have raised their year-end targets. The latest is Barclays, which moved up its year-end price target to 5,300 from 4,800 as Big Tech earnings and the US economy continue to surprise consensus to the upside. But perhaps most notably, the firm isn't ruling out a better outcome than 5,300 either. Barclays head of US equity strategy Venu Krishna noted that if Big Tech earnings continue to outperform projections, the firm's bull case of 6,050 for the S&P 500 is likely. "On balance, we believe that risk/reward is tilted toward the bull case, as macro data suggest that the odds of an economic re-acceleration are beginning to outweigh the probability of even a mild recession, in our view," Krishna wrote in a note to clients on Tuesday. https://finance.yahoo.com/news/barc...t-6000-soon--and-its-not-alone-190849325.html
This was last updated May 20th of 2024. Wall Street firm 2024 S&P 500 target as of May 20 2024 S&P 500 target as of March 25 BMO Capital Market 5600 5100 Wells Fargo 5535 4625 Deutsche 5500 5100 Oppenheimer5500 5500 Société Gén. 5500 5500 Morgan Stanley 5400 4500 Bank of America 5400 5400 Yardeni 5400 5400 RBC 5300 5150 Barclays 5300 5300 Goldman Sachs 5200 5200 UBS 5200 5200 Fundstrat 5200 5200 Citi 5100 5100 JPMorgan 4200 4200 Average 5289 5117 Median 5400 5200 Source: MarketWatch