Tom Lee, head of research at Fundstrat Global Advisors, has raised his year-end target for the S&P 500 to 8,000, up from a previous target of 7,700. The revision places him among a growing number of Wall Street strategists forecasting further gains for the benchmark index.
In a note to clients on June 24, 2026, Lee cited stronger-than-expected corporate earnings as the primary driver for the upgrade, offsetting a more conservative valuation outlook. 'Earnings momentum remains robust, and we see this as the key catalyst for the next leg higher,' Lee wrote.
Lee's new target implies roughly a 10% gain from the S&P 500's current level near 7,300. Other bullish strategists, including those at Goldman Sachs and Morgan Stanley, have also raised their targets in recent weeks, though Lee's 8,000 call is among the highest on Wall Street.
Fundstrat's outlook is based on continued economic growth, easing inflation, and strong corporate profit margins. However, Lee cautioned that risks remain, including potential geopolitical shocks and a slower-than-expected pace of Federal Reserve rate cuts.
