A top Wall Street forecaster made a great point after abandoning his S&P 500 target ๐ค
There's more to research and analysis than price targets ๐ฏ
Piper Sandlerโs Michael Kantrowitz will no longer maintain a year-end target on the S&P 500.
"Having a โmarketโ target to communicate our views on U.S. equities has become an extremely poor form of insight for our clients,โ he wrote (HT Yahoo Financeโs Josh Schafer).
I donโt follow Kantrowitzโs work very closely, as Piper Sandler does not share its research with TKer.
But I sympathize with his sentiment.
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