With the S&P 500 less than 2% from its historic all-time high, the bull market is one good day away from setting a new record.
FactSet takes individual company analysts' 12-month price targets and adds them up to get a top-line forecast of the overall market, which shows the S&P 500 could reach 3,097, or 7% from here, over the next year. This forecast is more bullish than the top-down forecast from Wall Street's macro forecasters, who see a slight increase in the S&P 500 to 2,950.
Based on the difference between the bottom-up target price and the current trading level, Nektar is set to have 110% upside in the next 12 months. Industry analysts are also particular bullish on Jefferies, Cigna, medical implant manufacturer Abiomed, and oil and natural gas company Diamondback Energy.
When analysts are this bullish, it’s time to be skeptical.
Does anyone really believe that the stock market acts entirely on its own. Like the sun rising and setting giving away to the moon? The stock market is controlled by man.
BigFatUglyBubble: