Analysts have consistently underestimated this bull market, according to Alpine Macro strategists. Despite scepticism, they believe equities will continue to exceed expectations, driven by robust earnings growth and a resilient economy.
The S&P 500 has outperformed Wall Street targets, indicating a significant disconnect between market performance and analyst predictions. Key factors include the absence of a broader recession, strong performance from mega tech companies, and accelerating corporate earnings.
Alpine Macro’s fair-value model suggests a potential S&P 500 target of 5,700, with even higher valuations possible if the broader market aligns with mega-cap growth.
