Roughly a year from today, the S&P 500 will likely have gone nowhere, strategists at Bank of America Global Research said in their year-ahead outlook published Monday.
Equity strategists at BofA set a 2023 year-end price target of 4,000 on the benchmark index — an increase of less than 1% from Monday’s close of 3,963.94 — as annual earnings per share for the S&P 500 are seen declining 9% next year to $200.
This drop in earnings reflects a figure roughly 15% below current estimates. In…
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