What is your 2010 S & P 500 target? I know many(myself included) condemn the strategists for getting it so wrong in 2007/2008 bear market. Fortunately they also got it right that S&P 500 will hit about 1,000 by end of 2009. Shall we say we are even now? Here are their 2010 forecasts, about 10% upside from 1,106. Their main assumptions are strong corporate earning recovery and M&A activities will fuel this rally.
(Bloomberg)The following table presents estimates from strategists at
brokerages for where the S&P 500 will finish 2010 and the
implied percentage change from last week’s close of 1,106.41.
Looks like none of them are thinking the current rally is a bear market rally. Interesting indeed.
PS, the European research outfits appear to be more conservative than American.
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