WALL STREET: Here's What The Stock Market Will Do In 2013

At the beginning of the year, 16 U.S. equity strategists we followed said they were looking for the S&P to end the year at  1,363.

The S&P closed at 1,416 on Friday.

As the year enters its final month, we expect Wall Street's research departments to start dumping their 2013 outlooks in droves starting next week.

According to our count, at least 9 top equity strategists have already published their full or partial outlooks.  Names include Goldman, Morgan, UBS, and Bank of AmericaMerrill Lynch.

All of them warn that their outlooks could change dramatically depending on the outcome of the fiscal cliff talks.

For now, their average year-end target for the S&P 500: 1,540 on $107 of EPS.

UBS - 1,425

2012 EPS: $108

Strategist: Jonathan Golub

Comments: "Our cautious stance is predicated upon a belief that a number of macro uncertainties — the most important of which stem from long-term U.S. fiscal imbalances — will hamper earnings growth and constrain valuations in 2013. ... [O]ur sense is that the most important structural issues will be pushed off into the future, leaving significant uncertainty about the long-term direction of the economy and corporate profits."

Source: UBS

Morgan Stanley - 1,434

2012 EPS: $98.71

Strategist: Adam Parker

Comments: "We recommend increasing China exposure, as China-centric US equities have lagged and are cheap vs. US-centric equities"

Source: Morgan Stanley

Deutsche Bank - 1,500

2012 EPS: $108

Strategist: David Bianco

Comments: "Our 12-month S&P 500 target remains 1500, but modest PE expansion toward the long-term norm of 15+ would make 1600 reasonable...Keeping capital gains and dividend tax rates low and equal, both 23.8% or less, and lower foreign earnings repatriation taxes would make 1600+, or 15x our 2013 EPS of $108, a reasonable 2013 yearend target."

Source: Deutsche Bank

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