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Oppenheimer raises S&P 500 forecast to second-most bullish on Wall Street

“Including the Oppenheimer forecast, the median year-end S&P 500 target of 16 strategists surveyed by CNBC is 2,475, just three points above where the S&P closed Friday” writes Pablo Blazquez Dominguez for Oppenheimer’s John Stoltzfus raised his year-end S&P 500 target 200 points on Monday, based on expectations of better earnings and economic growth.His new 2,650 target reflects a 7 percent gain from Friday’s near-record close of 2,472 and is the second-highest of the 16 strategists surveyed by CNBC. Only Morgan Stanley’s 2,700 target, officially a 12-month forecast, is higher.Part of Stoltzfus’ case for stocks to rise is a decline in U.S. dollar strength.

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