Morgan Stanley Hikes S&P 500 Target to 8,300 on Earnings Boom

Morgan Stanley is turning more positive on US stocks in a bet that blockbuster earnings and a strong economy will keep the bull market running full steam ahead.

The bank expects the S&P 500 to reach 8,300 in the next 12 months, implying a 12% rally from current levels. The team led by Mike Wilson also raised their year-end forecast to 8,000 from 7,800.