The S&P 500 may have hit yet another record high on Monday, but there’s still more upside potential left, according to one analyst.
Eric Wiegand, sr. portfolio manager at U.S. Bank, expects the S&P 500 to reach 2,550 by the end of the year, implying 2.5% upside from its current level of 2,487.
While Wiegand expects volatility in the remaining two weeks of September, which is historically the worst month of the year for the stock market, his bullish thesis is driven on a continuation of strong earnings. ‘
The S&P 500 is up 11% since the start of the year.
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