RBC Lifts S&P 500 Target to 8,150 as Stronger EPS Signals 10.8% Upside
Updated
Updated · CNBC · Jun 29
RBC Lifts S&P 500 Target to 8,150 as Stronger EPS Signals 10.8% Upside
3 articles · Updated · CNBC · Jun 29
Summary
RBC Capital Markets raised its 12-month S&P 500 target by 250 points to 8,150, implying 10.8% upside from last week's close.
Lori Calvasina said stronger earnings-per-share and valuation signals drove the increase, with her model assuming trailing four-quarter EPS of $337 in the first quarter of next year.
RBC still expects a choppy path, warning that moderate Fed rate hikes could trigger only "garden variety" pullbacks of 5% to 10%; futures show a 64% chance of a September hike.
The firm said it has slightly less concern than a month ago as lower oil prices and easing inflation could support sentiment if recession fears stay contained.
The call stands above the 7,807 average year-end target tracked by CNBC Pro, with the S&P 500 already up more than 8% in 2026 and heading for a fourth straight annual gain.