Staring Down the Rout in U.S. Stocks With Firms Seeing 12% Rally
- History of big finishes shows why strategists are unbowed
- Only four have cut S&P 500 projections since the selloff
Inside the Uncertainty and Fear in the Markets
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While the noise emanating from U.S. stocks has gotten deafening of late, Wall Street strategists have been quiet, at least going by their year-end targets. The market’s recent record of year-end rallies may explain why.
Among 21 brokerages tracked by Bloomberg, 17 haven’t touched their projections for the Standard & Poor’s 500 Index even after August’s selloff, maintaining predictions that call for a 12 percent rally by New Year’s. On average, strategists see the gauge reaching 2,204 in 2015, compared with 1,972.18 at Monday’s close.