JPMorgan ups S&P target

JPMorgan raised its year-end S&P 500 target to 7,600 on April 21, reversing a cut it made just weeks earlier. (reuters.com) The new call came from a team led by Dubravko Lakos-Bujas and replaced a 7,200 target set in March. Reuters reported the bank tied the change to stronger artificial-intelligence and technology earnings, with a U.S.-Iran ceasefire also helping sentiment. (reuters.com) At the S&P 500’s April 20 close of 7,109.14, JPMorgan’s target pointed to about 6.9% upside by year-end. CNBC reported that April 20 session left the index down 0.24% on the day after a long rally. (cnbc.com) An S&P 500 target is a strategist’s estimate for where the index could finish the year, based mainly on expected corporate profits and the price investors are willing to pay for those profits. In this case, JPMorgan argued both pieces improved at once: earnings expectations rose and the market’s risk premium eased. (finance.yahoo.com) The artificial-intelligence piece matters because the biggest technology companies now carry enormous weight in the index. JPMorgan Asset Management said this month that the AI trade in 2026 had been volatile, but it still saw support from earnings growth, valuations, adoption and strong balance sheets. (am.jpmorgan.com) The bank’s shift also shows how quickly Wall Street forecasts have moved with geopolitics and megacap tech results. Bloomberg reported JPMorgan had cut its target to 7,200 only last month before lifting it back to 7,600 on April 21. (bloomberg.com) Other reports on the note said JPMorgan also lifted its profit forecasts for the companies in the index, not just the target multiple investors might pay. Invezz, citing the bank’s note, said JPMorgan raised its 2026 earnings-per-share estimate to $330 from $315 and its 2027 estimate to $385 from $355. (invezz.com) That leaves the market’s next test where it usually is in April: earnings season. If the biggest AI-linked companies keep posting faster profit growth, JPMorgan’s higher target will look less like a reversal and more like a reset. (reuters.com)