A version of this post first appeared at TKer.co Wall Street strategists are almost unanimously bullish on the outlook for earnings. Their estimates for S&P 500 earnings in 2026 range from $300 to $320 per share, implying 11% to 19% year-over-year growth from this year’s expected level. However, strategists are divided on valuations — specifically, on the direction of the forward price-earnings (P/E) ratio as it hovers near five-year highs. Some argue that the elevated forward P/E is justified and sustai ...