Ed Yardeni Says Earnings-Led Stock ‘Melt-Up’ Has Staying Power
- Yardeni Research targets S&P 500 at 4,800 by end of year
- Equity rally seen as justified thanks to steady profit growth
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Ed Yardeni has good news on Federal Reserve taper day: The stock melt-up will continue in earnest thanks to the earnings firepower of Corporate America.
The president of Yardeni Research Inc. says a profit boom will power the S&P 500 to 4,800 by the end of the year -- an upside of 3.6% versus the Tuesday close -- and to 5,200 by the end of 2022.