The Wall St. Bull is seen in the financial district in New York.
Brendan McDermid | Reuters
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While the Covid pandemic is unlikely to subside anytime soon, BMO Capital Markets is calling for another year of double-digit stock gains in 2021, bolstered by low interest rates, unprecedented stimulus and rebounding corporate earnings.
The Wall Street firm expects the S&P 500 to reach 4,200 by the end of 2021, which implies a 15% annual gain from BMO’s 2020 price target of 3,650 and a 17% rally from current levels.
Originally published at CNBC