Overview
- The projection tops peers’ 2026 calls, which cluster near 7,100–7,800 from Bank of America, Goldman Sachs, JPMorgan and Morgan Stanley.
- Deutsche Bank argues earnings breadth is improving, citing FactSet data showing Q3 blended EPS up nearly 13%–13.4% with 83% of companies beating estimates.
- Nine of 11 S&P 500 sectors posted strong profit growth in Q3, and the other 493 index members delivered 11.9% earnings growth.
- A Nasdaq review found the S&P 500 Equal Weight Index and the Russell 2000 within 1%–2% of record highs in late November, signaling broader participation.
- Strategists highlight rapid AI investment and a supportive macro backdrop as pillars for sustained multiples, with rate policy seen as a key swing factor.