Evercore ISI says Trump to drive S&P 500 to 6,600 by mid-2025, gives top stocks to play new policies

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Evercore ISI says Trump to drive S&P 500 to 6,600 by mid-2025, gives top stocks to play new policies

Evercore ISI sees President-elect Donald Trump’s White House win as a reason for stocks to move higher. The firm said it sees the S & P 500 soaring to 6,600 by the end of June 2025. That implies upside of 11.3% from Wednesday’s record close. It’s also well above Evercore’s year-end 2024 target of 6,000 . Already, Trump’s win has spurred a huge stock market rally, with the S & P 500 soaring 2.5% on Wednesday to notch its best postelection day in history. The 30-stock Dow jumped by more than 1,500 points. Those gains came as investors cheered the prospect of deregulation and lower taxes under Trump. “This market will be driven higher by the policy prospect of deregulation in DC driving a capital market cycle largely absent since the 10/22 trough,” strategist Julian Emanuel wrote in a note. “Exuberance ***** ahead; President-Elect Trump will move fast on policy initiatives, and stocks will move fast in response.” Emanuel added the current bull market is still young and only up around 65%. Since 1932, the S & P 500 has averaged a 152% gain over 50 months during bull runs. The strategist listed several stocks Evercore thinks could benefit from a Trump win, and some that could outperform even further from a red sweep. The GOP secured a majority in the Senate, with one in the House also in the cards. Take a look at a selection of the Evercore’s Trump trades below: Some financials, such as Wells Fargo and Goldman Sachs , could outperform under a Trump presidency, according to Evercore. These two stocks rallied during Wednesday’s session and finished about 12% and 14.8% higher, respectively, on the hope that Trump’s policies will ease regulation. Trump’s win “could bring more favorable regulatory environment — and WFC is one of the most regulatory-impacted names given outstanding asset cap,” the firm said. Evercore has a $575 price target on Goldman, suggesting shares are overvalued and could decline 3.5 % from Wednesday’s close, however. They have a $77 target on Wells Fargo, implying 6.3% potential gain for the bank. The analysts also named both firms beneficiaries of a red sweep. Evercore included a few cybersecurity names to their Trump wins list, with Palo Alto Networks making the cut. “We likely see more state-sponsored cyber-attacks which in return will force cybersecurity investments. Tensions with China and potential tariff retaliations have been observed. Nation-states have targeted the U.S. in response to its support for *******, a situation likely exacerbated by Trump’s stance on *******,” Evercore said, adding that the ongoing Russia-Ukraine conflict has also led in a rise in cyberattacks on supply chains linked to Russia. Palo Alto’s shares are up nearly 14% over the past month and more than 30% this year. Evercore said the company has had strong financial performance, helped by its “platformization” strategy, strong subscriptions and AI-related product growth. Tesla ‘s another beneficiary, per Evercore, given CEO Elon Musk has close ties with Trump. To be sure, Trump’s policies are largely considered unfriendly towards clean energy, which would include electric vehicle companies such as Tesla. Other Trump beneficiaries include Ulta Beauty , given that it has no sourcing from China, and energy names Exxon Mobil and Halliburton .

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