“Morgan Stanley expects the S&P 500 to plunge another 17%-27% within the next four months — use these 3 top recession-resistant stocks for protection”
September 13, 2022
“…“Our ’22/’23/’24 base case estimates are now 3%/13%/14% below consensus, respectively,” a team of Morgan Stanley analysts led by Mike Wilson write in a recent note to investors. “In our base case, 2023 now marks a modest earnings contraction (-3% year-over-year growth), though we do not embed an economic recession in this scenario.”
“While acknowledging the poor performance in equities year-to-date, we do not think the bear market is over if our earnings forecasts are correct.”
The analysts expect the S&P 500 to fall to 3,400 by year-end. And if a recession hits the economy, they say the benchmark index could drop to 3,000.
Considering that the S&P 500 sits at around 4,107 right now, Morgan Stanley’s projection implies a further downside of 17% to 27%…”
https://finance.yahoo.com/news/morgan-stanley-expects-p-500-125500736.html