Wall Street coming to grips with how wrong it’s been in 2023
(Bloomberg) — Stock-market strategists who were largely wrong about this year’s rally are finally starting to come to face their mistake, raising year-end targets for the S&P 500 Index.
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Take Societe Generale’s Manish Kabra, who boosted his year-end target last week on the index to 4,750 from 4,300 — 25% above his original call of 3,800 heading into 2023. Or Piper Sandler & Co.’s Michael Kantrowitz and BNP Paribas SA’s Greg Boutle, who at 3,225 and 3,400 had…