Ed Yardeni, the renowned economist and market expert, has made a bold prediction for the future of the stock market. He believes that the S&P 500 could surge by a whopping 26% by 2026 to 6,500.
What Happened: Yardeni, the president of Yardeni Research, has been steadfast in his bullish outlook. He recently reiterated his year-end S&P 500 price target of 5,400, a figure he initially proposed a year ago. However, he now considers this estimate to be conservative.
“I think this is a long-term bull market. I got still 5,400 by year-end and that was a pretty bold call a year ago, but right now that’s looking pretty conservative, and why not more?” Yardeni told CNBC on Wednesday.
With the S&P 500 currently standing at around 5,150, Yardeni’s forecast suggests a potential 26% increase over the next two years. He attributes this optimism to the market’s improving breadth and the possibility of a broader market.
Yardeni also noted the high bullish sentiment among investors, suggesting that there may not be enough bears to convert into bulls to sustain the momentum. He views the broadening of the market as a positive sign and believes that this bull market could persist until the next recession, which he does not foresee happening in the next one to two years.
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