Morgan Stanley’s Wilson lifts mid-2027 S&P 500 target to 8,300 on earnings strength and a rolling recovery

Morgan Stanley CIO Mike Wilson raises his mid-2027 S&P 500 target to 8,300 (about 11% above current levels), citing stronger-than-expected earnings growth, a wartime valuation reset that re-rated multiples, and an ongoing rolling recovery. He also lays out investments: cyclicals should outperform, small-caps in line with large-caps, with overweight positions in industrials, financials, and consumer discretionary, and a downgrade to healthcare.