The S&P 500 Just Hit a Record High — Here’s How Much Higher It Can Climb, According to the Wall Street Consensus
The S&P 500 (SNPINDEX: ^GSPC) reached an all-time high for the 28th time this year on Oct. 6. The bull market is nearly four years old, and it shows few signs of slowing down. In that time, the S&P 500 has climbed 117%, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) is up 163%, thanks to its higher concentration of artificial intelligence (AI) stocks, which are driving the market higher.
While some investors may fear that stocks have gotten expensive and the bull market is getting old, Wall Street analysts still see plenty of upside left for stocks. FactSet recently published its bottom-up price target for the S&P 500, which aggregates the median analyst price target for every company in the index. By next September, analysts expect the S&P 500 to reach 9,275. That’s another 19% gain from the current level as of this writing.
But there are some important details investors can’t afford to overlook before piling more cash into stocks right now.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.