Strategists Forecast 15% S&P Upside and Include Palantir in Buy List
CIBC Capital Markets projects a 15% S&P 500 upside to 7,450 by year-end and singles out Palantir among tech names to buy as the index trades at 19.5 times forward earnings. JPMorgan shifted to neutral on US equities, accumulating mega-cap tech positions including Palantir to capitalize on valuation-driven rebound potential.
1. CIBC Projects Strong Upside and Recommends Palantir
CIBC Capital Markets forecasts the S&P 500 will climb to 7,450 by year-end, implying a 15% gain, with the index trading at 19.5 times forward earnings. The firm advises a slow and methodical approach to buying, spotlighting AI-focused and technology stocks such as Palantir for potential long-term gains.
2. JPMorgan’s Neutral Stance Spurs Palantir Accumulation
JPMorgan’s trading desk moved its US equity view from tactically bearish to neutral, citing attractive valuations after recent pullbacks, and is building positions in mega-cap technology names including Palantir. The shift reflects confidence in a market rebound driven by solid profit estimates and depressed sentiment indicators.
3. Geopolitical Volatility Creates Buying Opportunity
Escalating Middle East tensions have pushed oil prices higher and contributed to an almost 6% slide in the S&P 500, while the Cboe Volatility Index surged above 27. Despite these headwinds, contrarian signals suggest technology companies like Palantir could benefit from valuation-driven rebounds.