Submitted by Fox First at Ten on December 31st
By The Associated Press
What lies ahead for the stock market? The AP asked leading market analysts and investment managers where they see the Standard & Poor's 500 index winding up by the end of 2013 and why. The S&P 500 closed out 2012 at 1,426 on Monday, up 13 percent for the year.
CITIGROUP:
Year-end target for the S&P 500 index: 1,615.
Reasoning: Modest improvement in the economy and better company earnings. Enticed by higher returns, investors move some cash from bonds back into to stocks.
BANK OF AMERICA MERRILL LYNCH:
Year-end target for the S&P 500 index: 1,600.
Reasoning: Eventual fix to the "fiscal cliff," improving outlook for global growth.
GOLDMAN SACHS:
Year-end target for the S&P 500 index: 1,575.
Reasoning: The "turbulent political environment" that held back investment 2012 will end. Company revenues will edge higher and earnings will rise.
BARCLAYS CAPITAL:
Year-end target for the S&P 500 index: 1,525.
Reasoning: Capital spending will stabilize and the U.S. will benefit from improved manufacturing competitiveness and an energy boom.
WELLS FARGO SECURITIES:
Year-end target for the S&P 500 index: 1,390.
Reasoning: The U.S. economy flirts with recession, exports decline and investment falls.
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