Some market-watchers believe that a bullish Barron’s cover is a contrarian indicator. In other words, if it’s an optimistic cover, then investors should be worried.
Having said all of that, the story is nevertheless bullish.
“The 10 strategists Barron’s consulted about the outlook for 2014 have year-end targets for the S&P of 1900 to 2100, well above Friday’s close of 1775.32; their mean prediction is 1977,” wrote Barron’s Vito Racanelli.
This number is a bit higher than the 12 strategists tracked by Business Insider, who have a mean forecast of 1,949.
“The bullish consensus might trouble contrarians, but Wall Street’s pros see ample reason for optimism, given their expectations of a stronger economy and rising corporate profits,” added Racanelli.
The strategist skewing everyone’s averages is JP Morgan’s Tom Lee who sees the S&P 500 surging to 2,075.
“The bull market, which began in March 2009, is acting like a “classic” secular bull market,” wrote Lee in a note to clients on Friday. “History says we could see a 20% gain in 2014,”
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