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Wall Street Raises US Stock Targets Across the Board: AI Frenzy Unabated, Bull Market to Continue
BlockBeats News, September 10th, as strong corporate earnings and renewed enthusiasm for artificial intelligence drove U.S. stocks to record highs, Wall Street analysts are rushing to raise their expectations for the S&P 500 Index. Deutsche Bank strategist Binky Chadha has raised his year-end target for this U.S. benchmark index to 7,000 points, implying over 7% upside from current levels. Barclays analysts have also raised their forecast, while the Wells Fargo Securities team expects the S&P 500 to rise another 11% by the end of next year. "The market does indeed have some froth, but as long as artificial intelligence capital spending remains steady, the bull market should continue," said Wells Fargo's Ohsung Kwon.
Earlier in April, after Trump announced large-scale global tariffs, they significantly lowered their forecasts; subsequently, as Trump softened his trade rhetoric, they turned bullish again. Chadha has raised his target by almost 7% this time, stating that the direct impact of tariffs on inflation is expected to be half reflected in the data. He also believes that investor positioning, better-than-expected economic growth, and a weakening dollar will all support the stock market. (FXStreet)
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