Wall Street Strategists Forecast A Continuing Bull Market For 2017

As we near a close to 2016, it is time to look forward to 2017. We have done this in 2014, 2015, and 2016 so it is becoming a tradition to see which strategists did well and which missed the mark. What do the experts think will happen in 2017 and should we even care?

medium_728933695

Perhaps you are familiar with Philip Telock's landmark UC Berkeley study that looked at 82,000 predictions over 25 years by 300 leading economists. It turned out that their so called expert views were no better than random guesses, and worse, the more famous, the less accurate the prediction.

Last year, the strategists predicted a bull market for 2016 and they almost hit the number right on the mark. Their average forecast was for a 7.2% gain in the S&P 500 to 2215. They should get a round of applause as the S&P finished at 2239. Well done. Deutsche Bank's David Bianco gets the highest grade with a forecast of 2250, only missing by 11 points. Barclays' Jonathan Glionna should also be given a trophy as he was within 2% for the past couple of years. Let's look at the numbers.

Video length: 00:03:02

Predictions for 2017

After looking at all the Wall Street reports, I compiled the predictions from 11 top stock market strategists (the eternal bull Tom Lee hasn't released his 2017 forecast). For 2017, the average price target for the S&P 500 is 2352 or a 5.1% return. Let's take a look at the forecasts and I've also included their predictions from last year so you can see if they are bullish or even more bullish - bears are clearly in hibernation.

2017 strategists forecasts.png

Bull isn't tired yet

Last year's two most accurate strategists, Bianco and Glionna, are also two of the most bullish on the street. Glionna has a bullish target of 2400 (+7.2%) and BIanco has a target of 2350 (+5%). They both see corporate tax rates falling with the new administration which will translate to higher earnings. Here are their other reasons for seeing blue skies ahead.

1 2
View single page >> |

Disclosure: Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Runnymede Capital Management, Inc.), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Runnymede Capital Management, Inc. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Runnymede Capital Management, Inc. is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of Runnymede Capital Management, Inc.’s current written disclosure statement discussing our advisory services and fees is available for review upon request.

...more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free iPad Pro.