Looking at the S&P 500 right now, you might be convinced the stock market is destined for doom in 2022.
The benchmark index rose nearly 27% last year. This year, it’s already down 22%. Plenty of stocks are deep into correction territory.
Yet JPMorgan’s global head of equity macro research, Dubravko Lakos, sees a major rebound on the horizon.
“People are basically positioned for a recession. Our base case is that this is not going to be a recession in the next 12 months,” Lakos told CNBC earlier this month. “And we think from that angle the portfolios are wrong footed.”
Lakos reiterated a year-end price target of 4,900 for the S&P 500. Since the index sits at 3,736 today, his target implies a potential upside of around 31%.
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