"Wall Street Banks Raise S&P 500 Targets Amid Bullish Outlook"
BofA Securities' equities team has raised its S&P 500 price target to 5,400 from 5,000, predicting a 5% gain in the broader market by year-end but has tempered its bullishness due to improving sentiment across Wall Street. The team's realistic bear case is a drop in the S&P to 4,100, while their bull case is a rally to 6,500. They note that market pullbacks and corrections are overdue, and their Chief US Technician sees bearish divergences, but post-election day returns have historically been positive.
