U.S. stocks could ‘zigzag’ to record high before end of 2023, says Wall Street permabull who called this year’s rally

One of Wall Street’s biggest bulls expects U.S. stocks to rise 5% to a fresh record before the end of 2023. But there could be at least one brief detour along the way.

Fundstrat’s Tom Lee calls for stocks to “zigzag” higher as high as 4,800 before the end of the year in his latest investing outlook. That would represent a record close for the index, which recorded its most recent record closing high on Jan. 3, 2022, when it finished at 4,796.56, according to FactSet data.

Lee…