Wall Street's 2026 forecasts: Here's what you need to know

Market Outlook - Wall Street strategists expect a double-digit return for the S&P 500 in 2026, with a median year-end target of approximately 7650, representing a 10 to 11% increase from current levels [1][2][5] - Oppenheimer has the highest target at 8100, while Bank of America has the lowest at 7100 [2] Earnings Projections - The median target price for the S&P 500 implies a price-to-earnings (PE) ratio of about 25, indicating potential multiple expansion from current levels [3][4] - Estimated earnings per share (EPS) for the S&P 500 range from a high of $356 to a low of $296, with a median level of $338 [4] Market Sentiment - There is incremental optimism for double-digit returns to repeat, despite concerns about potential multiple compression and sector composition affecting upside targets [5][6] - Historical context shows that last year’s projections for double-digit gains were adjusted downward following a selloff, indicating a cautious sentiment among some strategists [6][7]