What a difference a year may make.
CFRA’s Sam Stovall believes stocks will return to all-time highs in the next 12 months.
“In other bear markets going back to 1929, and the average 13 month advance was 50%,” the firm’s chief investment strategist told CNBC’s “Trading Nation” on Monday. “We have a very good possibility of retracing our steps and challenging the old high.”
The S&P 500 closed at its record high of 3,393 on February 19. Stovall’s rolling 12 month price target on the index is 3,435, which reflects a 17% jump from current levels.
Despite his bull case,