It’s time once again to rev up for the new year!
The CNBC Market Strategist Survey gave a snapshot of the predictions for S&P in 2022. In summary, the targets range from 4400 to 5330, with an average target of 4985 and median target of 5050. Given that S&P closed at 4793.54 yesterday, there is roughly upside of 4-5% according to the biggest banks in Wall Street.
Interestingly, the predictions for 2021 were included, and ranged from 3950 to 4800. This means that almost everyone got it wrong for 2021. This serves as a reminder that these price targets are really “best guesses”.
Nonetheless, the 2022 predictions indicate that the “experts” do not think that the returns of the best part of the last 2 years will most likely not be replicated. In my humble opinion, it would be prudent to rotate into other markets for better returns. Cheers!