BMO Capital Markets predicts 10% gain for S&P 500 by end of 2025

Despite nearing all-time highs, the S&P 500 Index could climb another 10% by the end of 2025, as BMO Capital Markets analysts reported. Chief Investment Strategist Brian Belsky has raised his year-end target for the index to 6,700, up from 6,100, after earlier revisions driven by market turbulence over tariff concerns.

Recent growth in US manufacturing activity and upcoming Q2 earnings releases from 500 major companies will provide further insight into the industry's state. Earlier this year, 11 Wall Street firms lowered their S&P 500 targets amid an April sell-off, but at least 8 have since revised their projections upward, Yahoo Finance comments.

Belsky says preliminary forecast reductions were tied to President Donald Trump's proposed tariffs on key trading partners. Nevertheless, a 90-day pause in new duty implementations has prompted analysts to reassess their outlooks, contributing to the recent upward revisions.