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Strategists' 2008 S&P 500 Price Targets

by: Bespoke Investment Group July 23, 2008 | about stocks: IVV / SPY    

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Below we have updated strategist price targets for the S&P 500 from the weekly survey done by Bloomberg.  The most recent firm to drop out from forecasting is Wachovia. 

Since we last updated the list below, Lehman, Merrill, HSBC and Credit Suisse have lowered estimates.  The only firm that hasn't lowered estimates since the start of 2008 is Deutsche Bank.  Since the start of the year, they have kept their year-end target at 1,650.  Credit Suisse and HSBC have lowered their targets the most at about -20%.

Currently, the average forecast from the strategists still participating in the survey is 1,471, which is 16% above current levels.  While Credit Suisse is the most bearish firm, they're still looking for the market to be higher at year end than it is now.

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This article has 1 comment:

  •  
    Jul 24 01:30 PM
    I'm sufficiently cynical about such forecasts because, should these financial instituions estimate an 1100 or even 1000 finish to the year, I think they think that'd stimulate a sell-off. Since the S&P has such a strong financial component, what they think they'd be feeding is a sell off of their own companies. Hmmm..., a vested interest perhaps??
    Reply
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