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Bullish strategist’s 2022 price target is 4,800 for the index
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Kolanovic has previously urged investors to buy the dip
JPMorgan Chase & Co.’s Marko Kolanovic reiterated that increasingly hawkish central banks and the destruction of the Nord Stream pipelines will likely cause delays in the US equity-market’s recovery, putting the firm’s 2022 S&P 500 Index price target of 4,800 at risk.
Wall Street’s most vocal bull, who first sounded the alarm on Friday, said in a note to clients on Monday that the bank’s forecasts may not be met until 2023, or until risks ease. JPMorgan’s year-end target, which implies a potential upside of about 30% through Monday’s close, is now in jeopardy.
“We still believe that Asian growth will be supportive of the global cycle and low investor positioning provides a floor to ma