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SocGen sees S&P 500 hitting 8,000 as earnings strength broadens
['Sam Boughedda', 'Tue', 'August At Pm Bst', 'Min Read']
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Investing.com -- Societe Generale told clients in a note on Tuesday that U.S. earnings strength is broadening beyond technology, and it expects the S&P 500 to reach 8,000, urging investors to "buy the momentum dip."
It flagged industrials for record margins and rising upgrades, with large-cap EPS growing 15% and small-cap growth reaching 30%.
Kabra added that EPS is broadening, calling record highs in the S&P 500 Equal Weight Index "a testament to this," with cycle drivers "still running hot."
SocGen prefers the equal-weight index and sees the S&P 500 at 8,000.
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