New for subscribers: Strategist who called market bottom sees more gains ahead as 'epicenter' stocks are set to rally Check out CNBCPro today.
is primed for another leg higher led by stocks benefiting from the economy reopening.
Lee hiked his S&P 500 price target to 3,525 on from 3,450 on Thursday night. His new target implies an upside of 4.4% from the S&P 500 previous close of 3,373.43. The S&P 500 has never traded above 3,400. His call came after a massive rally off the March low — which he called — that left the S&P 500 a stone's throw away from its Feb. 19 intraday record of 3,393.52. Since hitting an intraday low on March 23, the S&P 500 is up more than 50%. Those gains have been largely led by growth stocks, especially the major tech names.
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