Wall Street's Biggest Bull Sees S&P 500 Rising 12% by Year's End
- U.S. benchmark gauge will finish the year at 3,200: Canaccord
- Strong earnings growth and rising confidence will help rally
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As U.S. equities flirt with a fresh all-time high, the most optimistic strategist on Wall Street is doubling down on his view that the S&P 500 Index will soar 12 percent in less than five months.
By the end of this year, the index will reach 3,200 points as the economy and earnings drive the next leg of the bull market, according to Canaccord Genuity LLC’s Tony Dwyer. Reset global expectations and a demographic tailwind will also fuel a second-half ramp-up, the strategist said, after the gauge climbed to within a percentage point of surpassing its January peak.