In the December 16, 2013 edition of Barron’s, the cover story is titled “Bullish on 2014.”
Included in the story, 10 investment strategists give various forecasts for 2014 including S&P500 profits, S&P500 year-end price targets, GDP growth, and 10-Year Treasury Note Yields.
A couple of excerpts:
THE 10 STRATEGISTS Barron’s consulted about the outlook for 2014 have year-end targets for the S&P of 1900 to 2100, well above Friday’s close of 1775.32; their mean prediction is 1977. The bullish consensus might trouble contrarians, but Wall Street’s pros see ample reason for optimism, given their expectations of a stronger economy and rising corporate profits.
Specifically, the strategists eye S&P profits of $118, up from this year’s estimated $108 to $109. Industry analysts typically have higher forecasts; their 2014 consensus is $122, according to Yardeni Research.
The article also mentions that among the investment strategists, average expected 2014 GDP growth is 2.7%.
I post various economic forecasts because I believe they should be carefully monitored. However, as those familiar with this blog are aware, I do not agree with many of the consensus estimates and much of the commentary in these forecast surveys.
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1775.32 as this post is written