CFRA Raises S&P 500 12-Month Target to 8,650, Sees About 12% Upside
JH Kim
Summary
- CFRA raised its 12-month target for the S&P 500 to 8,650 from 7,730, implying about 12% more upside.
- CFRA also lifted its end-2026 target to 8,050.
- Sam Stovall said solid corporate earnings are supporting stocks, but rising margin debt, persistent inflation and the possibility of further Fed tightening are fueling concerns that the rally is nearing a peak.
Forecast Trend Report by Period
CFRA raised its 12-month target for the S&P 500 to 8,650 from 7,730, Walter Bloomberg reported on August 10. The new target implies about 12% upside from the index's close on August 7.
The research firm also increased its end-2026 target to 8,050.
CFRA strategist Sam Stovall said solid corporate earnings continue to support stocks. But rising margin debt, persistent inflation and the possibility of further tightening by the Federal Reserve are heightening concerns that the market rally is nearing a peak.
JH Kim
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