S&P 500 Could Hit 8,100 Says HSBC as Earnings Smash Expectations

TLDR

• HSBC raised its S&P 500 year-end target to 8,100, up from 7,650
• Strong corporate earnings are the main driver, with first-half 2026 EPS growth near 40%
• HSBC forecasts full-year 2026 earnings growth of 33%, or $360 EPS
• AI capital spending is cited as a key catalyst supporting tech and semiconductor stocks
• HSBC says concerns about Fed rate hikes, geopolitics, and midterm elections are overdone

HSBC lifted its year-end target for the S&P 500 to 8,100 on Tuesday, up from its previous target of 7,650. The bank pointed to stronger-than-expected corporate earnings as the main reason for the upgrade.

HSBC raised its 2026 year-end S&P 500 target to 8,100, implying further upside from current levels.

The bank points to strong earnings growth and continued AI-driven investment as key supports for equities. pic.twitter.com/KMQ9HtRTib

- Sam Badawi (@Sam_Badawi) September 8, 2026

The revised target implies about 4.9% upside from the index’s last close. The S&P 500 has already risen 12.75% this year.

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