BMO TARGETS S&P 500 AT 7,380 BY END-2026 BMO Capital set a 2026 year-end target of 7,380 for the S&P 500, implying about an 8% expected return. The firm remains bullish despite macro uncertainty, citing strong global monetary and fiscal stimulus. BMO favors cyclical sectors — industrials, materials, energy and financials — while underweighting defensives such as consumer staples, healthcare, real estate and utilities. Inflation remains the main risk.