Piper Sandler sticks to bullish S&P 500 outlook despite recent selloff
Written by Emily J. Thompson, Senior Investment Analyst
Source: SeekingAlpha
Piper Sandler's S&P 500 Prediction: Piper Sandler maintains its year-end target for the S&P 500 at 6,600 points despite recent market corrections, citing potential for further gains amid current economic concerns.
Technical Levels to Watch: The firm highlights key resistance and support levels for traders, with resistance at 5,746 to 5,928 and support at 5,366 to 5,509, while also listing various ETFs and mutual funds that track the S&P 500.
Analyst Views on SPY
Wall Street analysts forecast SPY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SPY is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 688.980
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Current: 688.980
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
