Morgan Stanley US chief equity strategist Mike Wilson spoke on Bloomberg TV.
He outlined his:
- base-case scenario for the S&P 500 to end the year at 3,900
- bull case is 4,200
- bear case is 3,600
On the way he expects a low of 3,000 to 3,300 for the cycle.
Citing:
- The earnings situation is way worse than what the consensus thinks
- The banking stress only makes us even more confident of that
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Wilson has been a persistent bear.
