Chief investment strategist John Stoltzfus raised his year-end S&P 500 target to 5,900 from 5,500.
The stock market's record-setting run is showing no signs of slowing, according to Oppenheimer. Chief investment strategist John Stoltzfus raised his year-end S & P 500 target to 5,900 from 5,500. The new forecast implies upside of nearly 6% from Friday's close. It's also the second highest target on the CNBC PRO Market Strategist survey .
Chipmaker Nvidia has soared 154% in 2024, with its market cap swelling to more than $3 trillion. Meta Platforms, another AI beneficiary, is up 52% year to date. Stoltzfus added he expects the Federal Reserve to cut rates in late 2024, giving stocks another boost.
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