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Barclays boosts S&P 500 target to 7,950
Barclays Bank has raised its forecast for the Standard & Poor's 500 Index in 2026 to 8,950 points, after increasing its end-of-2023 target to 7,950 points from 7,800, driven by strong performances in tech company results and earnings that exceeded Wall Street expectations, with 86% of the companies in the index surpassing forecasts. The bank expects the index to reach 8,800 points by the end of 2027, supported by ongoing advances in artificial intelligence and economic activity, although it remains cautious about valuations due to inflation risks and geopolitical tensions. Additionally, Barclays has raised its earnings per share estimate for the index in 2026 to $365, but downgraded its rating for the utilities sector to "Neutral" due to regulatory uncertainties.
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