Morgan Stanley has a new chief U.S. equity strategist in town, and he's uber-bullish on stocks in 2017.
"The cyclical upturn that began a year ago has less to do with President Trump and more to do with the global business cycle," with Trump simply "turbocharging" things, Morgan Stanley's Michael Wilson wrote in a Monday note to clients.
"The end of the cycle is often the best," he added. "Think 1999 or 2006-07. In a low-return world, investors cannot afford to miss it."
Wilson has laid out a "bull case" for stocks that calls for the S&P 500 index to reach 3,000 points within 12 months, representing a gain of almost 30 percent. His "base case" scenario calls for gains of nearly 15 percent, with the index hitting 2,700.