News Formal

Evercore ISI says Trump to drive S&P 500 to 6,600 by mid-2025, gives top stocks to play new policies

  • 📰 CNBC
  • ⏱ Reading Time:
  • 24 sec. here
  • 13 min. at publisher
  • 📊 Quality Score:
  • News: 51%
  • Publisher: 72%

Investment Strategy News

Stock Markets,Wells Fargo & Co,Goldman Sachs Group Inc

'Expensive has a history of getting more expensive and lasting longer with greater gains,' strategist Julian Emanuel said.

Evercore ISI sees President-elect Donald Trump's White House win as a reason for stocks to move higher. The firm said it sees the S & P 500 soaring to 6,600 by the end of June 2025. That implies upside of 11.3% from Wednesday's record close. It's also well above Evercore's year-end 2024 target of 6,000 . Already, Trump's win has spurred a huge stock market rally, with the S & P 500 soaring 2.5% on Wednesday to notch its best postelection day in history.

Trump's win "could bring more favorable regulatory environment — and WFC is one of the most regulatory-impacted names given outstanding asset cap," the firm said. Evercore has a $575 price target on Goldman, suggesting shares are overvalued and could decline 3.5 % from Wednesday's close, however. They have a $77 target on Wells Fargo, implying 6.3% potential gain for the bank. The analysts also named both firms beneficiaries of a red sweep.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Evercore ISI names stocks that could win under either Trump or Harris winA rise in volatility similar to the run-up of the 2016 and 2020 presidential elections remains base case, the firm said.
Source: CNBC - 🏆 12. / 72 Read more »

Here are Evercore ISI's top chip stock picks into earningsMore than 90 S&P 500 companies have reported results, with 76% of those exceeding estimates, FactSet data shows.
Source: CNBC - 🏆 12. / 72 Read more »

S&P 500: What a Trump Win Looks Like for the Market Now and Into 2025Stocks Analysis by MarketBeat.com (Thomas Hughes) covering: S&P 500. Read MarketBeat.com (Thomas Hughes)'s latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »