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In the view of the analysts at JP Morgan, the US equities, including the S&P 500 index, is poised for additional upside next year, with the 2021 year-end target seen at 4,500.

Key quotes

“Expectations of many key risks subsiding (e.g. US elections, pandemic and vaccine news, etc.) clearing the path to a more positive forward outlook.”

“While there has been some upward pressure on rates, central bank policy continues to be accommodative and a major pillar of support for equity multiples.“

“A 1.5% 10-yr UST yield would make them less comfortable on US stocks.”

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