Royal Bank of Canada raises S&P 500 target to 8150 points, warning of market volatility risks

Lori Calvasina, Chief Strategist for US Stocks at Royal Bank of Canada Capital Markets, has raised the 12-month target level for the S&P 500 index by 250 points to 8150 points. The bank predicts that the adjusted earnings per share for the past four quarters in the first quarter of next year will reach $337, and reminds that market volatility is inevitable during the upward trend, with the biggest risk coming from the Federal Reserve's resumption of interest rate hikes.