Stoltzfus Sticks by Call for S&P 500 to Rally 40% by Year-End
- Strategist stays with ultra-bullish price target of 5,330
- Fed is “very capable” of dealing with recession risk, he says
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There are bears who see another 20% rout ahead for the S&P 500, and there are bulls offering a theory for why the worst is over. And then there’s John Stoltzfus.
The Oppenheimer & Co. chief investment strategist is sticking to his January forecast that the benchmark index will end the year at 5,330 -- a whopping 40% or so from where it currently stands after advancing on Tuesday.