The new forecast signals roughly 6.9% upside from Monday’s close of 7,109.14.
Last month, the bank lowered its outlook to 7,200 from 7,500, reflecting earlier market caution.
Analysts also increased annual earnings-per-share estimates to $330, up from $315.
For 2027, the bank now expects EPS to reach $385, highlighting sustained long-term expansion.
Strong momentum in AI and technology stocks recently pushed both the S&P 500 and Nasdaq to record highs.
J.P. Morgan credited renewed optimism to Anthropic’s “Claude Mythos,” which revived the bullish AI narrative.
The firm noted earnings upgrades remain concentrated among select technology companies and energy firms.
It expects U.S. equities to remain core holdings, supported by innovation, superior growth, and consistent capital returns.
