Below we have updated S&P 500 year-end price targets for strategists surveyed by Bloomberg. For each strategist, we provide their 2008 price target at the start of the year as well. As shown, for various reasons, four strategists are no longer giving price targets.
Currently, Deutsche Bank is the only firm that has not lowered its price target this year, and it is also the highest at 1,650. For their target to be on the mark, the S&P 500 will need to rise 30% from now to the end of the year.
Credit Suisse currently has the lowest price target at 1,300, which is down from their 1,650 target to start the year. Even with the lowest target of 1,300, Credit Suisse is still forecasting the S&P 500 to be up from current levels by the end of 2008. The average price target of all strategists is currently 1,451, which is 13.89% above the S&P 500's current price. At the start of the year, analysts were expecting a gain of 11%.