SocGen’s Kabra Is Now Among the Biggest Bulls on US Stocks
- New year-end target of 5,500 implies upside of over 5%
- Says record-breaking rally is rational rather than excessive
There’s no stopping the record-breaking rally in US stocks against the backdrop of an improving outlook for corporate earnings and the frenzy around artificial intelligence, according to Societe Generale SA strategists.
The team led by Manish Kabra boosted its year-end target for the S&P 500 Index to 5,500 points from 4,750 — the highest forecast among strategists tracked by Bloomberg. The new target implies gains of more than 5% from current levels.