Investors are getting too weighed down by worry and aren't focusing enough on all the stock market has going for it, according to Credit Suisse.
That's the wrong way to look at things, the bank's strategists said in a lengthy report for clients. Credit Suisse is projecting the S&P 500 to end the year at 3,000, representing a 13 percent gain from Tuesday's close.
"While each issue has merit, we believe investors are under-estimating the market's potential upside, and over-estimating risks," said Jonathan Golub, Credit Suisse's chief U.S. equity strategist.
Despite blowout Apple earnings, the stock market continued to struggle on Wednesday. The S&P 500 is little changed on the year.
In addition to the aforementioned concerns, Golub noted fears about whether economic growth won't meet lofty expectations and signals being sent from the bond market, where a narrower gap between government bond yields is kindling fears that a recession is looming.