Home Business Fundstrat's Tom Lee raises 2020 S&P 500 goal, sees rally into year-end

Fundstrat’s Tom Lee raises 2020 S&P 500 goal, sees rally into year-end

Tom Lee, Fundstrat International Advisors

Scott Mlyn | CNBC

(This story is for CNBC PRO subscribers solely.)

Fundstrat International Advisors’ Tom Lee, who accurately referred to as the underside for shares in March, believes the S&P 500 will proceed to climb, and sees the benchmark index ending the yr on a excessive observe.

On Thursday, Lee hiked his year-end goal to three,800, representing a 6.5% rally from the place the S&P 500 closed on Wednesday. Lee’s prior goal, which was established on August 13, stood at 3,525.

Lee’s forecast places the S&P at a brand new all-time excessive — the benchmark’s present file intraday excessive is 3,645.99, reached on Nov. 9.

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