(Bloomberg/Julien Ponthus) — US stocks can rise another 20% by the end of 2026, driven by the excitement around artificial intelligence, according to strategists at Evercore ISI.

The S&P 500 is forecast to reach 7,750 points by the end of next year, with “a technological revolution lifting stocks, multiples and society to new heights,” Evercore ISI chief equity and quantitative strategist Julian Emanuel wrote in a note. That implies a 20% gain from Friday’s close, and would follow an almost 10% rally for the US benchmark so far this year.

Emanuel’s 2026 target is the highest on the Street so far, according to data compiled by Bloomberg. The strategists wrote that the impact of AI means earnings have been defying expectations. The second quarter delivered “double-digit growth and broad up

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