Wall Street forecasters are rushing to boost their outlook for the S&P 500 as robust corporate earnings and renewed enthusiasm around artificial intelligence fuel a record-breaking rally.
Deutsche Bank AG strategist Binky Chadha raised his year-end target for the US benchmark to 7,000 points, implying gains of more than 7% from current levels. His peers at Barclays Plc also increased their forecast, while the team at Wells Fargo Securities LLC expects gains of 11% by the end of next year.