The S&P 500 Just Hit a Record High -- Here's How Much Higher It Can Climb, According to the Wall Street Consensus
Analysts see another big year in the stock market. Here's what's behind the number.
On October 6, the S&P 500 reached a record high for the 28th time this year, marking the beginning of an approximately four-year bull market that shows no signs of slowing down. During this period, the S&P 500 has climbed 117%, while the Nasdaq Composite has surged 163%, primarily due to its larger number of artificial intelligence (AI) stocks driving the market higher.
Despite concerns that stocks might have become overpriced and the bull market is reaching its peak, Wall Street analysts still anticipate a significant amount of upside potential for stocks. FactSet recently released its bottom-up price target for the S&P 500, which is based on the median analyst price target for every company within the index. According to this consensus, the S&P 500 is projected to reach 9,275 by September next year, representing an additional 19% increase from its current level.
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