Bank of America sees just an average market gain next year because a vaccine is mostly 'priced in'

Justin Tallis | AFP | Getty Images

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Bank of America sees modest gains in U.S. stocks next year as the major averages already have a successful Covid-19 vaccine and economic recovery mostly baked in.

The Wall Street firm's 2021 year-end price target for the S&P 500 is 3,800, implying about 6% upside from current levels.

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