RBC lifts S&P 500 year-end target to 7,900 on AI optimism

RBC Capital Markets raised its year-end target for the S&P 500 to 7,900 from ‌7,750 on Friday, citing resilient earnings growth and ‌continued strength in artificial intelligence‑linked sectors. The Canadian brokerage's new target implies ​a 7.7% upside from the benchmark index's Thursday close of 7,335.66. U.S. equities have rallied to hit record highs in recent weeks as enthusiasm around AI-related investment and expectations of ‌solid profit growth continue ⁠to support investor appetite.