A top Wall Street forecaster made a great point after abandoning his S&P 500 target 🤔

There's more to research and analysis than price targets 🎯

(Photo by Julia Joppien on Unsplash)

Piper Sandler’s Michael Kantrowitz will no longer maintain a year-end target on the S&P 500.

"Having a ‘market’ target to communicate our views on U.S. equities has become an extremely poor form of insight for our clients,” he wrote (HT Yahoo Finance’s Josh Schafer).

I don’t follow Kantrowitz’s work very closely, as Piper Sandler does not share its research with TKer.

But I sympathize with his sentiment.