Strategists Left in Dust With Targets Trailing S&P 500 by Most Ever
- Equity benchmark tops Wall Street’s year-end target by 9%
- Is it a sign of under-estimated market, or some pain to come?
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For another illustration of the power of the equity rally, look at where the market stands now relative to forecasts from Wall Street’s best and brightest minds.
After three weeks of gains that are on the verge of erasing its loss for the year, the S&P 500 is approaching 3,200, sitting 9% above the projection of 2,933, the average level where strategists expect the index to finish 2020. That’s the widest gap in Bloomberg data going back in 1999.