JPMorgan Chase has raised its year-end target for the S&P 500 to 8,000, representing a 3.5% upside from Tuesday's close of 7,728.20.
This is according to Reuters, which also noted that at least seven brokerages now project the benchmark to hit 8,000 by year-end 2026.
JPMorgan cited strong backlogs converting into revenues as a key driver for its bullish outlook on cloud growth and AI spending.
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