I have never quite understood the purpose of year-end price targets for the stock market. Every bank issues them. And each year, all of the banks offer eternally optimistic views on how the 365-day period will play out. (There’s never a bear in the picnic basket!)
Year-end price targets always represent gains for the S&P 500. With nobody getting it right, why do the media solicit opinions from the same firms to take a stab at calling the bear market bottom?
Here are the “guestimates” from three banks on where the bear will stop. Note: With the S&P 500 closing at a new 52-week low of 2237.40 today (3/23/20), we’re likely to get downward revisions on top of downward revisions.