Stifel’s Chief Equity Strategists weighed in on the possibility of the S&P 500 index hitting a new all-time high by the end of 2023.
According to Bloomberg’s data, the S&P 500 sell-side analysts have a median year-end 2023 S&P 500 target of 4,350. Stifel’s current price target for the index sits at 4,400.
“It is a couple of uber-bulls in the survey who intrigue us...they believe the S&P 500 achieves 4,800+ by year-end 2023,” the strategists said in a note.
For them, the likelihood of this happening by year-end is “exceptionally unlikely.”
“Achieving the S&P 500 prior peak of ~4,800 at YE 2023 requires favorable EPS and Financial Conditions (we see that as unlikely),” the strategists further said.
S&P 500 closed at $4,515.77 on Friday.