Top Stories
Top Stories

S&P to hit 1,825 this year: JPMorgan’s Tom Lee

S&P to hit 1,825 this year: JPMorgan's Tom Lee

The secular bull market remains strong, making the case for staying constructive on stocks, JPMorgan's chief investment strategist,Tom Lee, said Friday.

"The conditions that were supporting a rise in the first six weeks [of the fourth quarter] are still in place into year-end," he said. "And we know investors usually position for the year ahead anyway, so we don't see the market stalling here. That's why we raised our price target."

Lee, who previously had a 1,775 year-end target for the S&P 500, now expects the index to close out 2013 at 1,825. His call was among the most bullish on Wall Street, with Barclays forecasting 1,800 at year-end, Goldman Sachs at 1,750 and Citigroup at 1,650.

(Read more: Ride the bull for 2 more years: Ed Yardeni)