Bank of America raised its S&P 500 Q2 EPS estimate to 85.50 (28% YoY), above consensus, and lifted the full-year forecast to 345, citing strong early beats, upbeat guidance ratios, and cooling CPI. Tech and Energy are highlighted as key drivers, with elevated Big Tech capex expectations. The upgrade reinforces a supportive earnings and macro backdrop, potentially tightening risk premia in US equities near term.
AI Insight · NCSISP5002USD/USDTAI Insight
▲ Bullish
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Bank of America raised its S&P 500 second-quarter earnings-per-share forecast to $85.50, up 28% year over year and 5% above the Wall Street consensus. It also lifted its full-year 2026 EPS estimate to $345 from $335, implying 26% annual growth. The bank said Energy and Tech are the main drivers, while early reporters have delivered an 83% EPS beat rate and a 72% revenue beat rate. Cooling inflation in the latest CPI reading was cited as an additional support for earnings resilience.