Barry Bannister raises his target on the S&P 500 to 4,400

We are raising our target price for the S&P 500 by 5% from our 4,200 prior midpoint view to 4,400 by 2Q/3Q 2023.  There are encouraging signs of economic resilience in mid-2023, which is good for Cyclicals rather than Defensives.

~ Barry Bannister, chief equity strategist at Stifel, "S&P 500 could rise as high as 4,400 in coming months, says Wall Street strategist who called 2023’s rebound," MarketWatch.com, May 8, 2023