Barclays raised its year-end S&P 500 target to 7,950 from 7,800, citing strong technology earnings, artificial-intelligence investment and widespread earnings beats. Venu Krishna, Barclays' head of U.S. equity strategy, increased the firm's 2026 earnings-per-share forecast to $365 from $337 and its 2027 estimate to $414 from $389, while retaining an 8,800 target for 2027. The S&P 500 traded at 7,636.36, up 11.55% for the year, implying roughly 4% upside to the revised target. Big Tech earnings rose 35% year on year in the second quarter and broader technology-sector earnings increased 88%, while 86% of reporting S&P 500 companies surpassed analyst expectations. Barclays expects hyperscaler capital expenditure to exceed $1.1 trillion in 2027 and downgraded utilities to Neutral from Positive, citing California wildfire-liability legislation and resistance to data-center approvals. The bank sees potential outcomes ranging from 6,750 in a weaker environment to 8,350 under favorable conditions.