Market guru Yardeni sees S&P 500 hitting 8,250 this year, highest among top Wall Street forecasters, as earnings bolster ‘Roaring 2020s’ |
Market guru Yardeni sees S&P 500 hitting 8,250 this year, highest among top Wall Street forecasters, as earnings bolster ‘Roaring 2020s’
Yardeni Research President Ed Yardeni, who has been beating the drum about another Roaring Twenties since the decade began, is even more optimistic on stocks this year as recent earnings are driving a meltup.
On Sunday, the market veteran hiked his year-end forecast for the S&P 500 to 8,250 from 7,700—making him the most bullish among top Wall Street forecasters.
Yardeni’s call now tops views at Oppenheimer (8,100), Deutsche Bank (8,000), Morgan Stanley (7,800), Citigroup (7,700), JPMorgan (7,600), and Goldman Sachs (7,600).
To be sure, some firms will likely boost their predictions as more earning roll in. But JPMorgan already raised its view on the S&P 500 late last month, reversing a cut it made earlier to 7,200.
Yardeni pointed out that while he has been upbeat on earnings, Wall Street is already ahead of him, even after lifting his outlook.
“We’ve never........