fueled by the coronavirus pandemic. Amid increased market volatility, some Wall Street analysts have started pulling targets for the S&P 500, saying it's too difficult to predict the future during a period of such high uncertainty.
Stoltzfus said that Oppenheimer will start the S&P 500 forecast again when the length of the"hard stop" of the US economy can be determined, he said. Canaccord Genuity analyst Tony Dwyer also pulled his S&P 500 target for the year, saying it's impossible to assess the economic impact until there's a peak in coronavirus cases,Bill Miller's fund crushed the market for a record 15 straight years.
Abandoning earnings forecasts makes it difficult for analysts to do any modeling of their own, as many look at price-to-earnings ratios to value companies.
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