In order to provide an exclusive read on stock market sentiment for CNBC's audience, we polled some of the top strategists on Wall Street to ascertain where they saw markets headed by the end of 2015. The survey requested participating strategists forecast a year-end value for the S&P 500 Index. It also asked for an estimate on full-year earnings per share, given each strategist's methodology. Based on those estimates, CNBC calculated an implied Price-to-Earnings multiple for each strategist polled.
The total sample of estimates was then used to arrive at an average target price for the S&P 500 based on where it is projected to end the year. Throughout the course of 2015, the survey results will be updated to accommodate any revisions to target prices and earnings per share estimates that are made. The historical data will be maintained so expectations for year-end can be put in context as outlook projections are revised.
A monthly update will be provided on where the year-end target stands, along with tracking of any changes to forecasts made at any point during the year by individual strategists polled.