http://blogs.wsj.com/moneybeat/2013/07/15/merrills-subramanian-hikes-year-end-sp-500-target-to-1750/?mod=yahoo_hs
If the market rises more than you expected, the solution is easy:
raise your target, and blame it on how wrong other strategists and
analysts have been.
Bank of America BAC +0.87%
Merrill Lynch raised its 2013 year-end target for the S&P 500 to
1750 from 1600, implying a full-year gain of 22%. In essence, equity and
quantitative strategist Savita Subramanian now expects the index to
rise another 4% over the balance of the year, rather than fall 4.9%.
Subramanian also introduced a 12-month price return forecast of 10%, better than the average gain of 8% since 1936.
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