Why You Should Be Wary of Wall Street’s Upbeat Stock Forecasts

Yet Wall Street stock analysts continue to forecast gains in corporate earnings and revenues as far as the eye can see. The consensus on Wall Street, based on IBES data from

, is that corporate America will achieve higher earnings and revenues in every quarter through the first three months of 2024. That’s the most distant date on Wall Street radar.

Don’t take these rosy estimates too seriously.

“We’re clearly on the downside…