Wall Street Expects the S&P 500 to Hit a Record High: 2 Highly Recommended Growth Stocks to Buy Now and Hold Forever
Throughout October, Wall Street analysts reduced fourth-quarter earnings estimates for the S 500 (SNPINDEX: ^GSPC) due to a slowing economy. But the collective wisdom of Wall Street still says the benchmark index will reach a record high in the next year.
Specifically, the S 500 carries a 12-month price target of 5,052, implying a 15% gain from its current level of 4,383 (as of Nov. 8). That is a bottom-up forecast that aggregates the median price target on every stock in the index, blending more than 11,000 individual estimates.
Building on that, CrowdStrike Holdings (NASDAQ: CRWD) and HubSpot (NYSE: HUBS) both carry an average rating of "buy" among analysts, and neither stock has a single sell rating at the present time.
Source Fool.com