Equity strategist Anthony Golub sees the index heading to 3025, based on expanding valuation multiples. Many fund managers haven’t re-risked their portfolios, he writes.
The market’s double-digit percentage rally so far this year has more to go as investor sentiment rises, according to Credit Suisse.
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“Our work indicates that investors have not fully re-risked portfolios following 4Q’s turbulence—despite a sharp decline in volatility and spreads—and that valuations will drift higher as they do so,” he wrote in the report.
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