At the start of the year, the consensus Wall Street year-end price target for the S&P 500 was 1,531, which translates into a gain of 8.76%. With the index up 6.65% year to date, the market is already close to the consensus price target after just a month and a half.
Below is an updated look at the year-end price targets for the major Wall Street strategists (using Bloomberg's weekly survey). As shown, the S&P 500 needs to gain just 1.17% to get to the current consensus price target of 1,539. Citigroup (NYSE:C) remains the most bullish firm on the Street, but it's only looking for a gain of 6.2% from here through year-end. Three firms have year-end price targets that are below where the S&P 500 is currently trading -- Morgan Stanley (NYSE:MS), UBS (UBS), and Wells Fargo (NYSE:WFC). Wells Fargo is the most bearish with a year-end target of 1,390.