Dec 14th, 2009: 2010 SP-500 Price Target Forecasts
Posted by pugsma on December 15, 2009
There was great article on Bloomberg today citing the leading brokerage stragegist forecast for the SP-500 for 2010. The average forecast was for a level of 1223 or a 9.8% increase from today’s close of 1114. Here is the summary table.
Firm Strategist Estimate %Change
Bank of America David Bianco 1,275 14.4
Barclays Barry Knapp 1,120 0.5
Citigroup Tobias Levkovich 1,150 3.2
Credit Suisse Andrew Garthwaite 1,125 1.0
Deutsche Bank Binky Chadha 1,260 13.1
Goldman Sachs David Kostin 1,250 12.2
JPMorgan Thomas Lee 1,300 16.7
Oppenheimer Brian Belski 1,300 16.7
RBC Myles Zyblock 1,200 7.7
UBS Thomas Doerflinger 1,250 12.2
AVERAGE 1,223 9.8
Here is a link to the complete article. Well worth the read.
http://www.bloomberg.com/apps/news?pid=20601084&sid=aZWcAYwYzP_0
This data fits nicely with my bullish model posted earlier today that projects a 1260 June 2010 target price for the end of P1. P2 will likely be mostly a sideways move (like 2004) so the end of 2010 could still be in the 1200 to 1260 range.
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