The market is more rational than it’s been in a decade, according to BofA Securities' head of U.S. equity and quantitative strategy.
Bank of America Securities' Savita Subramanian is the most bullish on stocks in at least 10 years. According to the firm's head of U.S. equity and quantitative strategy, the macro backdrop is reenergizing key groups that have been overshadowed by Big Tech gains and excitement surrounding artificial intelligence.
"In terms of [market] returns over the next 10 years, maybe they're a little bit lower than what we've enjoyed. But I think that they're driven by the right stuff: productivity [and] efficiency," she said. "Companies are doing all the right things." Last month, Subramanian hiked her S & P 500 year-end target 7.5% to 4,300, with a range as high as 4,600. On Tuesday, the index closed 0.47% lower, ending the session at 4,388.71.
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