Stocks are trading near record highs, and Wall Street expects them to continue their march higher over the next year.

Analysts expect the S&P 500 to rise 7.5% to nearly 6,700 over the next 12 months, according to a recent analysis of stock price targets by FactSet Research analyst John Butters. (The index-level target is calculated by aggregating the median stock price target of the index’s components.)

Several Wall Street banks lifted their year-end S&P 500 forecasts in the last month as stocks rebounded from a tariff-driven sell-off in April to regain all-time highs. The S&P 500, which ended last week at a record, fell 0.8% to 6,230 on Monday as President Donald Trump’s fresh tariff threats aggravated simmering trade…