The firm raised its year-end S&P 500 price target to 4,900 — the highest in CNBC's Market Strategist survey.
Easing inflation pressures will translate into even more gains for the S & P 500, according to Oppenheimer. The firm raised its year-end S & P 500 price target to 4,900 — the highest in CNBC's Market Strategist survey . That forecast represents upside of 6.8% from Monday's close of 4,588.96. Stocks have already had a stellar year. Through Monday's close, the S & P 500 is up 19.5% for 2023. .
SPX YTD mountain SPX in 2023 "Inflation stateside continuing to trend lower [is] showing that the Federal Reserve's efforts are having effect in curbing untoward levels of inflation experienced since late 2021 and into mid-year 2022," wrote chief investment strategist John Stoltzfus in a note Tuesday.
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