Ameriprise keeps 2026 S&P 500 target at 8,000

Ameriprise maintained its 2026 year-end S&P 500 target of 8,000, citing improved earnings expectations despite higher yields. Full-year 2026 S&P 500 EPS estimates are around $362, with 2027 estimates above $417, suggesting continued double-digit growth. The base case anticipates one more 25-basis-point Fed hike this year, with policy remaining restrictive until core PCE reaches 2% in 2029. The 10-year Treasury yield exceeding 5.0% is seen capping equity valuations due to high term premiums linked to deficit borrowing. Upside factors include stronger 2027 growth, lower energy-driven inflation,