While many stock analysts see a stock-market correction soon amid slowing economic growth, JPMorgan sees it differently, predicting the S&P 500 will reach 4,700 by year-end.
That would represent a 5% gain from the recent level of 4,481. The index at last check gained 0.8%.
“Despite concerns about the recent downshift in economic and business cycle momentum, we remain confident that strong growth lies ahead and activity is bound to reaccelerate,” JPMorgan strategist Dubravko Lakos-Bujas wrote in a commentary cited by CNBC.
“We remain positive on the equity outlook, and expect S&P 500 to reach 4,700 by end of this year and surpass 5,000 next year on better-than-expected earnings.”
BVS Price at posting:
$3.11 Sentiment: Buy Disclosure: Held
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