Bank of America Lowers Target for S&P to 2,000

These analysts are so reactionary. Should the market go on a gorilla run higher, they’ll all be upping their targets for the S&P. However, now that it’s fashionable to sound doomful at cocktail parties, these fucking guys are slashing targets.

Truth be told, I think stocks go lower this year, so slashing targets is a good thing–for their pathetic careers. However, they’re doing it from a position of weakness, after the fact, Johnny come lately, losers.

While the bank’s new target implies a 7.7 percent advance from the current level, it’s 9 percent lower than the prior target of 2,200. It also implies that the gauge will fall for two consecutive years for the first time since the dot-com era.

“Unless we see signs of a growth recovery, there may be significant near-term downside to current levels,” the group, led by Savita Subramanian, wrote in a note to clients Friday. “The S&P 500’s move this year has been extreme, worsened by the dearth of liquidity in financial markets amid the tightest regulatory backdrop of our careers. This lack of liquidity could exacerbate downside risk potential.”

Subramanian is now the eighth strategist of 21 followed by Bloomberg to reduce a forecast this year. The new level leaves her as the least-bullish in the survey along with JPMorgan Chase & Co.’s Dubravko Lakos-Bujas. The 2,000 target is 8 percent below the median of 2,175.

Analysts.