Morgan Stanley sets S&P 500 target at 8,300 with 11% upside
Morgan Stanley’s Global Investment Committee has set a one-year S&P 500 target of 8,300, anticipating an 11% to 12% upside over the next nine to twelve months.
The rally has been driven by AI infrastructure spending, with semiconductor stocks among the primary beneficiaries. However, gains remain concentrated in a small number of large stocks and sectors.
US consumers are under increasing strain, with real purchasing power weakening and credit card delinquencies rising. Much of the recent margin strength appears to be driven by pricing power rather than productivity gains.