By Dima Kulakov
Back in June, I wrote an article comparing different analysts’ predictions for the 2020 year-end S&P 500. This year, the S&P closed at a record high level of 3756, a 16.3% year over year increase. With these year-end results now available, the analysts’ June predictions will be compared to reality.
As can be seen, each analyst was too “bearish,” meaning they underestimated the market. This is understandable, however, as, in June, the pandemic’s effects on the economy/market were still relatively unknown.
For 2021, many analysts are more optimistic. For instance, Tom Lee (one of the most bullish investors) predicts the following for the 2021 S&P level (a close at 4300):
JPMorgan has the highest target, at the moment, at 4,400, while Citi and Bank of America are the least bullish, with targets of 3,800.