As 2025 comes to an end, longer-term investors have been planning how they want their assets positioned for 2026. Those who have not been making plans need to start making those plans now — or even yesterday! As of December 3 2025, the S&P 500 was up 16.3% at 6,829.37 (and down only 1.2% from its recently established all-time high).
Tactical Bulls has tracked 11 major firms so far making 2026 forecasts for the S&P 500. Stocks greatly outperformed the consensus S&P 500 target of 8% to 10% for 2025.
Now it appears that Wall Street’s consensus is forecasting that the S&P 500 can rise another 11% or so in 2026. While some are even calling for more aggressive gains, the lowest upside target so far is still calling for a 4% gain in 2026.
FORECASTS FOR 2026
For 2026, the major Wall Street firms have set the following S&P 500 price targets:
Barclays 7,400
BofA Securities 7,100
BNP Paribas 7,500
Deutsche Bank 8,000
HSBC 7,500
JPMorgan 7,500
Goldman Sachs 7,600 (see special note)
Morgan Stanley 7,800
RBC Capital Markets 7,750
UBS 7,500
Wells Fargo 7,800
So, that’s from 11 firms so far with an implied consensus (mean) of 7,586 for the S&P 500 in 2026 — implying 11% gains from the current levels. That gives BofA’s lowest forecast (7,100) calling for just a 4% gain in stocks in 2026. Deutsche Bank’s most aggressive forecast (8,000) predicting gains of 17% for 2026.
Be advised that more forecasts will likely come in before or just after year-end. It is also possible some of the firms listed above may alter their forecasts even before this year’s end because market conditions can change in an instant.
Here are some additional views for 2026:
Walmart Still Expected to Beat Target in 2026
Almost Everyone Sticking with NVIDIA for 2026
A.I. Predicts Top Investing Themes of 2026
DISCLAIMER
Tactical Bulls has pulled each strategist call as each firm’s forecast by name. These targets and views are from those firms named and are not necessarily the view of Tactical Bulls. Each investor is responsible for their own decisions to buy or sell securities and those decisions should be made with the help of a financial advisor.