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In the view of the analysts at JP Morgan, the S&P 500 index is set to rally 25% in 2021, as the US banking giant lifts its price target to 4,600.

Key quotes

We see the S&P 500 reaching 4,000 by early next year.”

“Our base case S&P 500 price target for 2021 is 4,400 with a range of 4,200 to 4,600.”

“Expects that most of the market upside will take place in the first half of the year but said the backdrop should last into the second half when a fuller recovery is priced in.”

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