Wall Street predicts S&P 500 surge fueled by tech giants and economic resilience.
Stifel has raised its S&P 500 target to 4,400 from 4,200, predicting a sharp drop in inflation and preferring Cyclical over Defensive stocks led by Cyclical Growth and Cyclical Value. The firm also forecasts a more balanced fiscal and monetary consensus to emerge, and is only concerned about the risk of a recession and bear market by late-2023.