Market Insider

How much strategists expect stocks to rise in 2017

Closing Bell Exchange: Trump bump or dump?

U.S. stocks can rise about 2 percent more this year, according to CNBC's latest Market Strategist Survey.

The median forecast of 16 strategists surveyed in the last two weeks is 2,368, or 2.2 percent above Friday's close of 2,316.

However, about a third of respondents had a year-end price target of 2,300, and the median forecast of 2,335 is 0.8 percent above Friday's close.

Deutsche Bank's Binky Chadha became the most bullish analyst on Wall Street Thursday with his 2,600 year-end target for the S&P 500. That represents just over a 12 percent gain from Friday's close.

Previously, Deutsche's official forecast of 2,350 had been set by David Bianco, who last month moved on to Deutsche Asset Management to become chief investment strategist for the Americas and head of equities.

Fundstrat's Tom Lee is the most bearish firm with a 2,275 price target.

Aside from the impact of strategist changes, the 2017 S&P 500 targets remained the same for strategists surveyed late last year. The first-quarter survey included two other strategists, one from BNY Mellon Wealth Management and the other from Canaccord Genuity. Barclays was unavailable to provide an update as of this writing.

*Middle of a 2,2302,330 range

Survey results released in mid-December 2016 showed the median of 13 strategists' price target was 2,325.

U.S. stocks have soared since President Donald Trump won the election as traders bet on increased growth from promises of tax cuts, infrastructure spending and deregulation.

The S&P 500 has climbed nearly 8 percent since the election and is up about 3.5 percent for the year so far. The index rose 9.5 percent last year after ending 2015 less than 1 percent lower for the year.