Bank of America: The S&P 500 Is Going to Hit 3,500 by the Year 2025
An S&P 500 index of 3,500 might not be so far way.
Pedestrians pass by the New York Stock Exchange (NYSE) in New York, U.S., on Friday, Sept. 26, 2014. The S&P 500 finished the quarter below its average price for the past 50 days after dropping under that level for the first time since August on Sept. 25.
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Bank of America Merrill Lynch is the latest bank to throw its proverbial hat into the year-ahead outlook ring.
Savita Subramanian, head of U.S. equity strategy and U.S. quantitative strategy, has forecast that the Standard & Poor's 500-stock index will reach 2,200 in 2016. She also included a target of 3,500 by the year 2025. As of now, the index is hovering a little below 2,100.