RBC raises S&P 500 forecast, sees the market gaining another 3% from here

Angela Weiss | AFP | Getty Images

The stock market has a bit more room to run in 2021 after a robust start to the year, according to RBC Capital Markets, which on Tuesday hiked its forecast for the S&P 500.

Lori Calvasina, the bank's head of U.S. equity strategy, wrote in a note to clients that she now sees the market index finishing the year at 4,325, up from her prior target of 4,100. The new projection implies about 3% upside from where the S&P 500 ended April.

More In Pro Insight

CNBC ProUnderwater bitcoin miners are turning up the selling pressure on crypto
CNBC ProCathie Wood's ARK Innovation ETF could be headed for an explosive breakout, chart pattern suggests
CNBC ProThese stocks could be like 'summer rentals,' where investors move in and move out