Wall Street Has Been Tweaking Its S&P 500 Target All Year And It's Still Way Off
Dec 15, 2013, 01:45 IST
Of the 14+ Wall Street strategists followed by Business Insider, not one predicted the S&P 500 would be where it is today.
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In fact, the most bullish strategist at the beginning of the year - Citi's Tobias Levkovich - had a target of 1,615.
Today, the S&P 500 is sitting at 1,775 after starting the year at 1,426.
Levkovich, who rarely tweaks his forecasts during the year, included this chart of the Wall Street's evolving consensus forecast for the S&P 500 in a Nov. 29 note to clients.
Despite their constant revisions throughout the year, Wall Street is still below today's 1,775 level, which is literally off of this chart.
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