Yardeni Research has raised its 2025 S&P 500 (SPX) price target to 7,000, mirroring its original price target set at the beginning of the year.
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“We began raising our forecast again during the spring, when we concluded that the tariff issue would no longer impact the stock market by the end of the summer,” said Yardeni Research founder Ed Yardeni. “We bet the resilience of the economy would boost S&P 500 earnings.”
V-Shaped Rally and Fed Cuts Support Market Outlook
Yardeni believes that the “V-shaped” stock market recovery since April is a sign of the economy’s resilience and reduces the odds of a recession. The Fed’s 25-bps rate cut last month, and the potential for more cuts, also helps buoy the market.
Yardeni’s base case calls for a 50% chance of a sustainable bull market, down from 55%. The firm also raised its odds for a “meltup” to 30% from 25% and maintained a 20% chance for a correction.
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