Piper Sandler pivots to a more bullish stance on US stocks, lifts S&P 500 target

Investment bank Piper Sandler is turning more bullish on the US stock market, citing recent technical indicators and a broadening rally.

They note that historically, during election years, SMID-caps tend to outperform in the second half of the year, adding to their bullish sentiment. Futhermore, financials are seen as a bright spot by Piper Sandler."Financials have shown the most constructive price action," they wrote, highlighting a strong rally across various financial sub-sectors."They have led the recent surge higher in the market and have the most groups participating in the rally."

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