Wall Street Says the S&P 500 Will Rally to a Record High: 2 Remarkable Growth Stocks to Buy Now and Hold Long Term
The S&P 500 slipped 9% in the second half of 2023, dragged down by mixed signals about the strength of the economy and uncertainty surrounding Fed monetary policy. That backslide leaves the benchmark index 13% below its all-time high, but Wall Street sees a rebound on the horizon.
The S&P 500 bears a 12-month price target of 5,082, which implies 22% upside from its current level. That bottom-up estimate combines the median price target estimate on every stock in the index, aggregating 11,270 individual analyst ratings, according to FactSet.
Should that forecast come to fruition, the S&P 500 would reach a record high sometime in the next year. But should those gains fail to materialize, investors would still do well to view the drawdown as a buying opportunity. The S&P 500 has always recovered its losses in the past, and there is no reason that should change.
Source Fool.com
