JPMorgan Turns Positive on US Stocks, Sees S&P 500 Advancing in 2025
- End-2025 target is 6,500, up from 4,200 view of past two years
- Lakos-Bujas cites sturdy job market, AI boom, Fed rate cuts
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JPMorgan Chase & Co.’s equity strategy team, led for years by Marko Kolanovic until his departure earlier in 2024, has turned positive on US stocks.
Under Kolanovic, who had been bearish since late 2022 and whose exit JPMorgan announced in July, the bank kept its target for the S&P 500 Index pinned at 4,200 for almost two years. That was even as the US equities benchmark blew past that level in 2023 and climbed above 6,000 this year, and as Wall Street peers rushed to upgrade their outlooks.