Wall Street's biggest bear flips, raises S&P 500 price target by 20%

- Morgan Stanley's chief investment officer, Mike Wilson, raised his S&P 500 price target by 20% to 5,400 in the next 12 months - Wilson's new target reflects about 2% upside in the index over the next 12 months - BMO's chief investment strategist, Brian Belski, also boosted his year-end target to a street-high 5,600 - Deutsche Bank's chief equity strategist, Binky Chadha, raised his year-end target to 5,500 - Wilson sees potential upside to 6,350 in a bull case and downside to 4,200 in a bear case - Wilson recommends a barbell approach to investing, focusing on quality growth and cyclical stocks - Wilson upgraded the Industrials and Utilities sectors - Markets have been reacting to uncertain economic data, leading to fickle trading behavior