As year end approaches, more and more strategists are coming out with their 2008 forecasts, and below we have updated our table of these predictions. As shown, all 9 of the firms that have provided estimates are expecting the S&P 500 to move higher in 2008. JP Morgan (NYSE:JPM) and Wachovia (NASDAQ:WB) currently have the lowest S&P 500 projections at 1,590 (4.98% from here). Lehman (LEH) and Banc of America (NYSE:BAC) are looking for roughly 7% gains, while Goldman (NYSE:GS) and Citi (NYSE:C) have price targets of 1,675 (10.59%).
Strategas is looking for 1,680, and Bear Stearns (NYSE:BSC) and HSBC (HBC) have the highest estimates at 1,700. Of these 9 firms, Bear, Goldman and Wachovia did the best on their 2007 S&P 500 projections, with price targets just 2.34% above the current level.