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S&P 500 Getting Close to Consensus Price Target

At the start of the year, the consensus Wall Street year-end price target for the S&P 500 was 1,531, which translates into a gain of 8.76%.  With the index up 6.65% year to date, the market is already close to the consensus price target after just a month and a half.

Below is an updated look at the year-end price targets for the major Wall Street strategists (using Bloomberg's weekly survey).  As shown, the S&P 500 needs to gain just 1.17% to get to the current consensus price target of 1,539.  Citigroup remains the most bullish firm on the street, but they're only looking for a gain of 6.2% from here through year end.  Three firms have year-end price targets that are below where the S&P 500 is currently trading -- Morgan Stanley, UBS and Wells Fargo.  Wells Fargo is the most bearish with a year-end target of 1,390.

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