The Wall St. Bull is seen in the financial district in New York.
Brendan McDermid | Reuters
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While the pandemic is unlikely to subside anytime soon, BMO Capital Markets is calling for another year of double digit stock gains in 2021, bolstered by low interest rates, unprecedented stimulus and rebounding corporate earnings.
The Wall Street firm expects the S&P 500 to reach the 4,200 level by the end of 2021, which implies a 15% annual gain from BMO’s 2020 price target of 3,650 and a 17% rally from where stocks sit currently.