CFRA has increased its 12-month S&P 500 target to 8,650 from 7,730, which implies nearly 12% upside from August 7. The firm also lifted its 2026 year-end target to 8,050. Strategist Sam Stovall noted that strong earnings continue to support equities, but concerns are rising about a potential rally peak due to increasing margin debt, persistent inflation, and possible tightening by the Fed.