The revision is based on a strong earnings cycle and the anticipation that market confidence will grow by the end of the year, which should positively influence US stocks.“While all the growth may not materialize this year, we see market confidence in a continued recovery rising by year end, supporting equity multiples.”
The brokerage firm noted that although all growth may not materialize this year, the market's confidence in a continued recovery is expected to rise by year-end. This sentiment is projected to support equity multiples. If the macroeconomic growth continues to exceed trends as it has for the past seven quarters, the strategists suggest earnings could reach as high as $271 per share, which is at the upper end of their original forecast range of $250 to $271.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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