Strategists at Societe Generale have boosted their year-end 2026 projection for the S&P 500, now expecting the index to reach 7,300 — an increase from their earlier August estimate of 6,900.

The revised call implies roughly 8% upside from Tuesday’s close at 6,765.88.

“It’s too early to call the bull run over,” the team led by Manish Kabra wrote, pointing to a number of supportive trends underpinning their view. These include the economic lift from the One Big Beautiful Bill Act, profit-margin expansion outside the tech sector, and a pickup in corporate activity.

They also noted that capital spending driven by artificial intelligence is gathering pace, and although companies have taken on more debt, leverage levels remain manageable.

The strategists added that anticipated Federal Reserve interest rate cuts could provide an additional boost for equities.

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