S&P 500 Targeted at 1,840 In A Year, Index Set for 12% Gain Says Morgan Stanley Top Stock Guru

 @gmorcroftg.morcroft@ibtimes.com
on September 04 2013 8:42 AM

Morgan Stanley's (NYSE:MS) chief U.S. equity strategist said on Wednesday that he sees the S&P 500 Index at 1,840 a year from now, roughly 12 percent higher than current levels.

Adam Parker wrote in a research report this week, "We are buyers of dips and maintain our constructive stance, even though markets appreciated more than we expected year-to-date."

Parker added, "Looking 12 months forward, we are introducing a base case S&P 500 (NYSE:SPX) price target of 1,840, implying roughly 12 percent upside from here. Why? For one thing, markets can work while estimates are being downwardly revised." 

Share this article

More News from IBT MEDIA