Wall Street analysts now have more buy ratings on S&P 500 companies than at any time in 20+ years, per Jefferies LLC. Yet, with over 80% of stocks rated “buy,” average price targets suggest only a 10% upside—right in line with historical averages. As Jefferies’ David Greenebaum notes, upgrades reflect steady fundamentals, not excessive bullishness. Despite a 20% rally from April’s lows, analysts see stable, not euphoric, profit outlooks. The takeaway: focus on company fundamentals, not headlines or hype
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