Morgan Stanley Raises S&P 500 Target to 8,300

Morgan Stanley lifted its 12‑month S&P 500 price target to 8,300, implying over 12% upside from current levels.
The bank forecasts EPS of $339 for 2026 (23% growth), $380 for 2027 and $429 for 2028, using a 20.5× forward multiple.
Morgan Stanley cites a 6% Q1 EPS surprise, 22% earnings‑revision breadth and 12% forward EPS growth as earnings‑driven upside, not multiple expansion.
The strategists favor Industrials, Financials, Consumer Discretionary and hyperscalers, keep Healthcare and small caps at equal weight amid less accommodative monetary outlook.