Strategists Sour Some More
Tuesday, August 17, 2010 at 05:56PM When we last posted the year-end S&P 500 price targets of major Wall Street strategists in mid-July (polled weekly by Bloomberg), the consensus target for the end of 2010 was 1,250. Since then the consensus year-end target has dropped to 1,235. At the start of 2010, the end-of-year target was 1,225. It then rose quite a bit as the market rallied early in the year, but it has since been trickling lower in recent months. It will be ironic if the target ends up getting right back down to the 1,225 level where it started the year.
Below are the price targets of the various strategists. Targets shaded in green have been increased from the start of the year, while targets shaded in red have been lowered. Interestingly, three of the four targets that have been lowered were raised earlier in the year. Deutsche Bank currently has the highest year-end target at 1,375, which would be a gain of 25.85% from now to December 31st. Bank of Montreal has the lowest price target at 1,145, which would be a gain of 4.8% from here. No strategists have a year-end target that is lower than the current price of the index.
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