"SocGen: S&P 500 Must Reach 6,520 Before Concerning Frothy Markets"

Société Générale's head of U.S. equity strategy, Manish Kabra, suggests that the S&P 500 has room to overshoot and advises staying long on U.S. tech and industrials due to positive signals indicating stocks are not overexuberant. Kabra points to a trifecta of signals, including profit inflection and high-yield spread compression, supporting his view. SocGen has set a target of 6,250 for the S&P 500, citing a favorable investing spot in the tech sector. Stock futures are holding gains, with bond yields creeping up, and various companies are reporting upbeat results.