Morgan Stanley’s Wilson Sees No Reason to Raise S&P 500 Target
- Strategist’s 2024 forecast is 12% below index’s Monday close
- Flags a ‘meaningful pickup’ in speculative activity and ‘FOMO’
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As a flurry of Wall Street forecasters bump up their optimism toward US stocks in lockstep, Morgan Stanley’s Mike Wilson won’t budge, arguing he sees no justification to upgrade his outlook given an absence of broad earnings growth.
The strategist stuck to his year-end S&P 500 Index forecast of 4,500 in an interview on Tuesday with Bloomberg Surveillance Radio, even as a growing list of peers at firms including Bank of America Corp., Goldman Sachs Group Inc., and UBS Group AG have raised projections for the benchmark.