The president of sell-side Wall Street firm Yardeni Research says his firm has raised its S&P 500 forecast for 2026 amid a strong earnings environment.
In a new CNBC interviewEd Yardeni notes that their projection has increased from 7,700 to 8,250 by the end of the year.
“I’ve been bullish, but not bullish enough. It turns out that analyst earnings estimates have been phenomenal. I’ve never seen anything like it. The first quarter earnings season we’re wrapping up now has been going gangbusters. Not only that, but the analysts are actually raising their estimates for the second, third and fourth quarters. And for the year as a whole, they’re talking about 23%, which is an extraordinary increase in an economy that’s been growing all the time.” along.”
Yardeni encourages investors not to underestimate the resilience of the economy, despite the ongoing geopolitical turmoil related to the war in Iran.
The veteran Wall Street investor also argues that analysts sometimes “pay too much attention to Washington [DC].”
Despite Washington, we have done remarkably well. And I think the same can be said globally.”
At the time of writing, the S&P 500 is at $7,416.18 and has risen more than 2.5% over the past five days. A jump to 8,250 would mean an increase of more than 11%.
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