2023 Mid-Year: Raising S&P 500 YE Target to 4,825 from 4,750, implies at least +8% in 2H (maybe more). P/E ex-FAANG is only 0.7X higher to 16.4X, hardly demanding.

NEW: Section (above) added identifying Key Recommendations and Super Grannies

We publish on a 3-day a week schedule:

– Monday
– SKIP TUESDAY
– SKIP WEDNESDAY <-- July 4th Holiday
– SKIP THURSDAY
– Friday

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Today's note will include a short video update. Please click to view. We discussed why we raise our YE target from 4,750 to 4,825 (implied +8% in 2H). The rise in stock prices over the past 9 months is the start of a new bull market. This n...

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