Deutsche Bank's Binky Chadha lifted his year-end target for the S & P 500 on Thursday, saying the market has more room to run despite current turmoil.
He tied this call to the fact that valuations are supported despite being at the top of their fair-value ranges.
.SPX YTD mountain S & P 500, year to date He said to expect more choppiness, such as what investors have experienced in recent weeks, even as the market recovers from its current correction.
Chadha expects prices to retreat again going into the presidential election, only to rally afterward to year-end.
The S & P 500 has added about 2.5% in the third quarter despite rocky trading.
Persons:
Chadha
Organizations:
CNBC