> S&P 500 target: 2,200
The firm sees S&P 500 year-end earnings per share at $123.00. That implies roughly 3% to 4% in the S&P’s earnings per share over the year. JPMorgan expects the oil drag to fade, but it sees a strong dollar persisting.
JPMorgan also suggested for its clients and investors to exit many of the top momentum stocks from 2015 because they have become crowded and expensive.
> S&P 500 target: 2,175
Morgan Stanley made big news publishing its views for investors to brace for a period of low investing returns. It was back in August when Morgan Stanley cut its 12-month target for the S&P 500 to 2,200 from 2,275, with expected forward price-to-earnings ratios of 16.6 rather than the previous forecast of 17.2.
Morgan Stanley also cut its 2016 earnings-per-share forecast for the S&P 500 to $128.50 from a previous $131. Morgan Stanley expects the Fed to raise rates five times between now and the end of 2016.
> S&P 500 target: 2,230 to 2,330
Wells Fargo carries a scale of targets for a range rather than listing absolute numbers. This seems more fair, although it makes the expectations for a low-end, mid-point, or high-end up for debate.
Wells Fargo has an S&P 500 Index operating earnings projection of $130 (per all S&P 500) for 2016.
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