Julian Emanuel (UBS) predicts that the S&P 500 books another double-digit gain in 2014 and sets a year end 2014 S&P 500 Price Target of 1,950.
“2014 looks to be another positive year for US equities. Our year end 2014 S&P 500 Price Target of 1,950 represents a gain of 10.1% from the current price of 1,771. On forecast 2014 earnings of $116 – 6.9% growth from 2013′s forecast $108.5 – 1,950 represents a 16.8x trailing multiple. Supported by strong corporate balance sheets, a Fed mindful of keeping conditions on course for 3% GDP growth and the first signs of a pickup in earnings growth – multiple expansion, consistent with historical precedent, is achievable.
Here are some more year-end 2014 S&P 500 forecasts:
|David Bianco||Deutsche Bank||1850|
|Brian Belski||BMO Capital||1900|
|David Kostin||Goldman Sachs||1900|
|Andrew Garthwaite||Credit Suisse||1960|
|Thomas Lee||JP Morgan||2075|