It looks like more and more analysts are turning bullish lately…
Like Jeremy Siegel at Wharton, who expects a 19% gain for the S&P 500 this year – its biggest yearly increase since 2009. That would send it blasting to a record high of 1,700.
Piper Jaffray’s Craig Johnson also expects a boost to 1,700 in 2013. And he projects a rise to 2,000 in 2014.
Welcome to the club.
Louis Basenese has been calling for a continued bull market long before it was popular. So why are more investors getting on board now?
Thomas Lee, Chief U.S. Equity Strategist for JP Morgan (JPM), explains the shift…
“What’ll get investors more comfortable about the bull market is [the fact that] the U.S. expansion is accelerating. We think that’ll be led by housing, which has already strengthened for a year, and that’s usually a three to five year cycle. I think the next kicker is a construction recovery, non-residential, infrastructure, power communications-type spending. And as that kicks in, that really helps the labor market recovery.”
Have you turned bullish about the economy yet? Let us know in the comments below. Also, tell us what you think the economy’s biggest driver (or hurdle) will be this year.