Jpmorgan Adds to Wave of 'unprecedented' S&P 500 Upgrades

Dow Jones00:53

1253 ET - JPMorgan raises its S&P 500 year-end price target to 7,800, joining a host of positive revisions among other analysts. The JPMorgan analysts say they started the year constructive on equities, but should have been even more positive on the outlook for S&P 500 earnings growth. Consensus estimates for both 2026 and 2027 have been upgraded about 10% so far this year, they say. "This type of positive revision is unprecedented and is typically seen only after a shock or post-recession," the analysts say. In this case, the market took a hit during the last earnings season, when companies raised capital expenditures budgets, followed by Anthropic announcing its new AI model in April, which confirmed the viability of AI services, the analysts say. "Against this backdrop, and with the US/Iran working towards a peace deal, we are approaching our 'Blue Sky' scenario," the analysts say. (kelly.cloonan@wsj.com)

(END) Dow Jones Newswires

June 24, 2026 12:53 ET (16:53 GMT)

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