Why is the most bullish forecast on the street just 8%? Typically, we see at least a few ultra-bulls calling for gains of 15-20%. It could be in part because the S&P 500 was at 3100 just a month ago and forecasts haven't been revised. Or it could be that some of 2020's forecasted gains ended up showing up in 2019. Either way, I find it curious that there isn't at least one analyst isn't pushing for S&P 500 3700.