HSBC just bumped their year-end $SPY target to 8,100 from 7,650. That's a meaningful upgrade—not just tinkering at the margins.
When a major bank revises upward mid-cycle, it usually reflects stronger-than-expected earnings momentum or easing macro headwinds. Worth watching if other desks follow suit.
Still a long way to go, but the street's getting more constructive.
When a major bank revises upward mid-cycle, it usually reflects stronger-than-expected earnings momentum or easing macro headwinds. Worth watching if other desks follow suit.
Still a long way to go, but the street's getting more constructive.