Stifel Nicolaus’ Bannister: S&P 500 Likely to Hit 1,600 in Early 2013

“The Standard & Poor’s 500 Index should rise to 1,600 in the first two months of next year, up 14 percent from Tuesday’s close, says Barry Bannister, chief portfolio strategist at Stifel Nicolaus.

That assumes the fiscal cliff will be avoided, he tells CNBC.

“Right now the central banks have been in the lead around the world [with their massive easing], and we need the politicians to fall in line,” Bannister says. “It’s taking a little longer than I thought, though.” ”

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