Fundstrat’s Tom Lee Touts 7,700 S&P 500 Target by Year-End Despite Ongoing Geopolitical Turmoil – Here’s Why

Market strategist Tom Lee is holding onto his inventory market forecast regardless of current market turbulence related to the conflict in Iran.

Lee says in a current interview with CNCB that his fairness analysis agency, Fundstrat World Advisors, is holding regular with its year-end S&P 500 goal of seven,700.

“One, I feel 7,700 was a conservative estimate to begin, as a result of markets have been steadily repricing on a P/E foundation, and we’re solely assuming modest P/E growth this 12 months to 7,700.

And as a lot because the conflict is creating clearly an enormous short-term setback, and a whole lot of uncertainty, together with results on financial coverage, finally, wars are going to be good for the US economic system and the US inventory market, so I feel as we get in the direction of the top of the 12 months, the market begins considering much less concerning the disaster aspect of this and extra on the chance.”

Lee additionally notes that previously eight main wars, the inventory market bottomed early on within the battle.

The S&P 500 is priced at 6,579.75 at time of writing and is down 2.12% prior to now 5 days, 3.77% prior to now month and 4.06% year-to-date.

Comply with us on X, Facebook and Telegram

Do not Miss a Beat – Subscribe to get e-mail alerts delivered on to your inbox

Examine Value Motion

Surf The Every day Hodl Combine

Generated Picture: Midjourney