Analysts at independent investment bank Oppenheimer (OPY) are feeling bullish.
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The firm lifted its year-end target for the benchmark S&P 500 index to 7,100, the highest among major Wall Street brokerages. The upwardly revised target implies 11% upside to the index’s last close of 6,388.64. Oppenheimer previously forecast the S&P 500 would end 2025 at 5,950.
“With the announcement of trade deals (Japan, EU) by President Trump… we believe that enough ‘tariff hurdles’ have been overcome for now,” wrote Oppenheimer in a note to clients. The U.S. and European Union (EU) concluded a trade deal on Aug. 3 that sets a baseline 15% tariff on most European goods imported into the U.S., including motor vehicles and semiconductors.
Investments Too
In addition to the baseline tariffs, the European Union has promised to buy $750 billion in U.S. energy products and invest a further $600 billion in the American economy. The administration of U.S. President Donald Trump has also struck a $550 billion trade deal with Japan.
Oppenheimer’s bullish outlook for the S&P 500 comes after the main U.S. bourse has risen nearly 30% from its April 8 low on tariff concerns. With tariff jitters fading, Oppenheimer also revised up its S&P 500 earnings estimate for the year to $275 from $265. The investment bank continues to favor U.S. cyclical stocks and sees further upside as inflation moderates.
Oppenheimer isn’t the only Wall Street firm feeling optimistic right now. In July, both Goldman Sachs (GS) and Bank of America (BAC) also raised their year-end targets for the S&P 500.
Is OPY Stock a Buy?
Not enough analysts cover Oppenheimer’s stock, so we’ll look instead at its three-month performance. As one can see in the chart below, OPY stock has gained 20.51% in the last 12 weeks.
