Vaccine rollout and economic recovery should push the S&P 500 to 4,300 next year, Oppenheimer says

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Traders work on the floor of the New York Stock Exchange.


(This story is for CNBC Pro subscribers only).

An economic recovery next year will help fuel a nearly 18% rise in the stock market by the end of 2021, according to new projections from Oppenheimer Asset Management.

The investment firm and its chief investment strategist John Stoltzfus released their outlook for 2021 on Monday, setting a year-end target for the S&P 500 at 4,300. The firm said in a note that its projection is based on a successful rollout of Covid-19 vaccines and more support from Congress and the Federal Reserve.

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