This week’s Bespoke Report newsletter is now available for members.
We’re just twelve days into the new year, but already it’s a year that is topping some strategists year-end targets. Granted, they were extremely conservative heading into the year, but if you’re a Wall Street strategist and already you’re going back to the drawing board just twelve days into the year, it’s going to be a long year.
For analysts, it’s a similar predicament. As of this week, the average analyst target price for stocks in the S&P 500 is just 4.64% above the average actual share price. Going back to at least 2004, there has never been another time where stock prices have been so close to their average analyst price targets. As an analyst, it’s hard to justify a buy rating on a stock if it’s trading at your price target!
In this week’s Bespoke Report, we provide our take on everything going on in the market this week, a preview of the upcoming earnings season, and how to view the market after what has already been a great start to the year. To read the report and access everything else Bespoke’s research platform has to offer, start a two-week free trial to one of our three membership levels. You won’t be disappointed!