S&P 500 target raised to 8,100
The S&P 500 index is expected to reach 8,100 by year-end, implying gains of more than 8 percent from current levels.
The bank expects S&P 500 profit growth above 28 percent this year, driven by semiconductor companies.
Improving profits could lower the market’s overall valuation multiple, leaving stocks trading below fair value.
The index could reach 8,900 by 2027, with capital expenditure and demand extending beyond the technology sector supporting continued gains.