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JPMorgan’s Marko Kolanovic expects the S&P 500 to fall 23% by the end of 2024.
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Kolanovic lays out what needs to happen for stocks to avoid this grim outcome.
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Other strategists have turned more bullish recently as the market powers on to new records.
Wall Street’s biggest bear isn’t budging on his dour outlook for the stock market even as the major indices continue to hit record highs.
But JPMorgan chief global markets strategist Marko Kolanovic is offering investors a “what could go right” scenario that would prevent his bearish outlook from coming to fruition.
Kolanovic has a 2024 year-end S&P 500 price target of 4,200, which represents potential downside of 23% from current levels as well as the lowest price target on Wall Street.
“Our cautious stance has been based on our view that there is no re-rating upside, and that any upside had to…
