Evercore ISI Sees S&P 500 Gain Raging On, Upping Target to 6,000
- Emanuel’s previous target was among the lowest on Wall Street
- Strategist sees cooling inflation, AI hopes pushing S&P higher
A trader works on the floor of the New York Stock Exchange (NYSE) in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
With the S&P 500 Index setting record after record, Evercore ISI is predicting another double-digit rally through the end of 2024.
Julian Emanuel, the firm’s chief equity and quantitative strategist, raised his year-end forecast on the S&P 500 Index to 6,000, the highest among major equity strategists tracked by Bloomberg — and roughly 10% above the gauge’s closing level on Friday. That’s an about face from one of Wall Street’s most prominent bears who previously expected the gauge to finish the year at 4,750.