A Very Strong 2019 Should Get Even Better

Here we are well into the fourth quarter of 2019, one of the strongest years for equities in the past 20 years (2013 better). In other words, this is the best year for stocks in a typical career.

As we head into year end, I’m raising my S&P year-end target to 3,185 (+60 points). This is based on $182 EPS (+$2 above consensus) and 17.5x PE (+0.4x above current). The PE works out to a 5.8 % earnings yield compared to an investment grade bond yield of 3.0%. Thus, one could even view stock...

Finish reading this report for free

Enter your email and we’ll send the paywall-free link directly to your inbox

In addition to your unlocked report, you will receive our weekly market newsletter Fundstrat Snapshot, as well as occasional updates and offers from Fundstrat Direct. You can unsubscribe at any time. For more information, see our privacy policy.

Get unlimited access to Tom Lee’s Fundstrat research Subscribe
Already a member? Log in

More from the author

Disclosures (show)

Events

Trending tickers in our research