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Wall Street’s Perennial Optimists Strike Again

It’s been said the only bubbles that Wall Street sees are the bubbles in its champagne glasses.

It appears those words are true because year-end targets for the S&P 500 (SNP:^GSPC) by Wall Street’s finest – are shall we dare say – quite bubbly:

  • Bank of America 2,200
  • Goldman Sachs 2,100
  • Morgan Stanley 2,275
  • JPMorgan 2,250
  • Stifel 2,350
  • Canaccord 2,340
  • RBC 2,325
  • Birinyi 2,300
  • UBS 2,225

The chart below shows how the S&P 500 (NYSEARCA:VOO) actually trades near 1,920 –

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