Tom Lee sees a 10% correction coming but says 2021 will still be a boom year

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Tom Lee, Fundstrat Global Advisors
Scott Mlyn | CNBC

Fundstrat's Tom Lee, who called the 2020 comeback before most others, says 2021 should be another strong year for the stock market.

But he expects a correction in the first half of the year.

Lee predicts the S&P 500 to end this year at 3,800, and he sees stocks eventually jumping to 4,300 in the second half of 2021, according to his outlook sent to clients Thursday. But first he expects a dip to the 3,500 area in the first half of next year.

The average 2021 S&P 500 target of strategists surveyed by CNBC is 4,056. The S&P 500 finished Wednesday at 3,701, up 0.2%. The index is up 14.6% year to date.

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