Here's what Wall Street pros are predicting for the stock market in 2016

It’s 2016. And if you’re invested in stocks, you’re probably wondering where the market will head this year.

The bull market is in its sixth year. And with global economic growth slowing, earnings growth flattening, the Federal Reserve tightening monetary policy, commodities prices dreadfully low, and the dollar unusually high, there’s a feeling that the bull run’s end is near.

But most Wall Street’s pros wouldn’t say so.

Of 14 top equity strategists followed by Business Insider, not one sees the S&P 500 ending 2016 below 2,050.

Note, the S&P closed 2015 at 2,043.9.

One stubborn bull sees the index surging to 2,325.

We’ve rounded up the calls from the top firms on Wall Street. We also included their original 2015 price targets, so you can see where the strategists stood a year ago compared to where the market is now. Many of these were revised as the year unfolded.

2,050 - Societe Generale

Societe Generale

2016 year-end target: 2,050

2016 EPS forecast: N/A

2015 year-end target: 2,200

Comment: 'The S&P 500 should absorb the Fed rate hike and finish the year flat. US dollar strengthening and high bond yields offset the strong US GDP growth already priced in. The presidential election in November 2016 could also be a source of volatility for US equities,' said Alain Bokobza.

Source: Societe Generale

2,100 - BMO Capital Markets

BMO Capital Markets

2016 year-end target: 2,100

2016 EPS forecast: $130

2015 year-end target: 2,250

Comment: 'We believe the S&P 500 will likely suffer its first calendar year loss since 2008,' wrote Brian Belski. 'However, we continue to believe the longer-term outlook for US stocks remains bright, and we remain confident with our call that US stocks are in the midst of a secular bull market.'

Source: BMO Capital Markets

2,100 - Goldman Sachs

Goldman Sachs

2016 year-end target: 2,100

2016 EPS forecast: $120

2015 year-end target: 2,100

Comment: 'We forecast the S&P 500 index will tread water for a second consecutive year in 2016,' wrote David Kostin. 'Our year-end 2016 target of 2100 represents a 1% price gain from the current index level (2089), which itself is just 1% above the year-end 2014 level of 2059.'

Source: Goldman Sachs

2,150 - Credit Suisse

2016 mid-year target: 2,150

2016 forecast: 6.8% growth

2015 year-end target: 2,225

Comment: 'We think that we are at the later stages of the equity bull market and see increasing headwinds for equities related to valuations, an uncertain macro environment, bottom-up disruptions, weak earnings momentum, and falling market breadth,' Andrew Garthwaite wrote.

Source: Credit Suisse

2,175 - Morgan Stanley

2016 year-end target: 2,175

2016 EPS forecast: $125.9

2015 year-end target: 2,200

Comment: 'We are viewing this as a mid-expansion period where equity returns are not strong (much like 2015 so far), instead of the end of the expansion,' Morgan Stanley strategists wrote. 'Should investors regain confidence that the US economy and corporate behaviours will not lead to a substantial earnings correction, we think the market could begin a more meaningful acceleration path.'

Source: Morgan Stanley

2,200 - Bank of America Merrill Lynch

BAML

2016 year-end target: 2,200

2016 EPS forecast: $120

2015 year-end target: 2,200

Comment: 'We expect modest gains for US large cap stocks in 2016: the likelihood of a recession in the next 12 months is low in our view, but valuations have normalized from previously low levels and narrowing returns are to be expected,' wrote Savita Subramanian.

Source: Bank of America Merrill Lynch

2,200 - JP Morgan

2016 year-end target: 2,200

2016 EPS forecast: $123

2015 year-end target: 2,150

Comment: 'A 5% to 6% change in the dollar's trade-weighted average price is roughly equivalent to a 3% change in the S&P 500's earnings per share in the next 12 months, he says. Even if the dollar doesn't rise another 10% to 11%, as it did in 2015, it will cause erosion in per-share earnings growth through transactional effects, he says,' Dubravko Lakos-Bujas told Barron's.

Source: Citi

2,200 - Citi

Citi

2016 year-end target: 2,200

2016 EPS forecast: $132.50

2015 year-end target: 2,200

Comment: 'Indeed, the combination of likely margin pressures by the second half of next year plus being further into the Fed rate cycle and the added uncertainty of a Presidential election may create the environment for Street restraint in 2H16,' said Tobias M Levkovich.

Source: Citi

2,200 - Barclays

Barclays

2016 year-end target: 2,200

2016 EPS forecast: 4% growth

2015 year-end target: 2,100

Comment: 'Our macro narrative is simple, if obvious,' Jonathan Glionna said. 'We believe U.S. interest rates will go up leading to a stronger U.S. dollar. This should cause earnings per share growth and returns to remain subdued. We forecast 4% EPS growth and a 5% gain for the S&P 500.'

Source: Barclays

2,225 - RBC Capital Markets

2016 year-end target: 2,225

2016 EPS forecast: $124

2015 year-end target: 2,325

Comment: 'On November 20, we published our 2016 outlook with an S&P 500 price target of 2,300,' wrote Jonathan Golub. 'Since that time, WTI has fallen by nearly 10% and bottom-up analyst estimates for 2016 have fallen by 1%. Further, economic trends have softened, with the November ISM at 48.6, well below the 53.7 average of the past 3 years.'

Source: RBC Capital Markets

2,275 - UBS

UBS

2016 year-end target: 2,275

2016 EPS forecast: $126

2015 year-end target: 2,225

Comment: 'Barring an unforeseen external shock or a recession, if earnings continue to improve, 2016 should be a positive year for US equities,' Julian Emanuel wrote. 'Regardless, we continue to expect further volatility -- which in essence means higher risk, both upside and downside.'

Source: UBS

2,250-2,300 - Deutsche Bank

2016 year-end target: 2,250-2,300

2016 EPS forecast: $125

2015 year-end target: 2,150

Comment: 'We reduce 2016E S&P EPS from $128 to $125,' wrote David Bianco. 'We're unsure of the tone of language appropriate to describe this reduction. Slashing or even cutting is too harsh as our new estimate is merely 2.5% lower. This trimming shouldn't surprise investors given recent commodity and currency markets.'

Source: Deutsche Bank

2,300 - Oppenheimer

2016 year-end target: 2,3oo

2016 EPS forecast: $129

2015 year-end target: 2,311

Comment: 'We look for the price of oil to find a bottom when the market eventually recognises that it has been oversold. We look for the dollar to eventually find a resistance level that will hold sometime in 2016 as economies outside the US continue to improve and show evidence of sustainable growth that will attract investment flows along with demand for foreign imported goods,' said John Stoltzfus.

Source: Oppenheimer

2,325 - Fundstrat

2016 year-end target: 2,325

2016 EPS forecast: $127

2015 year-end target: 2,325

Comment: 'We believe there is potential for positive surprises in 2016. Global growth re-accelerates in 2016 (3.0% in '15 to 3.2-3.3%) as US growth strengthens, EM stabilizes and Eurozone further firms: US growth should improve on heels of better consumer income, gov't adding to growth (especially election year), less drag from USD,' Tom Lee wrote.

Source: Fundstrat

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