Jefferies’ Sean Darby: Deal Premiums and Earnings are Rising, S&P Target Raised to 1673

“On Tuesday, Jefferies strategist Sean Darby cranked up his year-end target for the S&P 500 to1,673 from 1,565, making him the most bullish strategist on Wall Street…..

“The recent trend in mergers and acquisitions might indicate that financial assets have become overheated in the short-term — or it may indicate that Fed policy is beginning to work in raising animal spirits,” said Darby.

For now, he seems to be more convinced of the latter.

Here’s the chart Darby sent us….”

Full article and chart