Analyst maintains buy on SPMO, bullish on S&P 500 reaching 8,500 by year-end driven by earnings growth.

Jack Bowman remains bullish on the Invesco S&P 500 Momentum ETF (SPMO), maintaining his buy rating and expecting the S&P 500 index to reach or exceed 8,500 by the end of the year. He highlights SPMO's attractive look-through forward P/E ratio of 17.3x compared to SPY's 20.2x, noting that the fund's earnings growth is driven in part by a significant position in Micron, which lowers the overall multiple. Bowman advises investors to view SPMO as a high-beta investment that amplifies market moves rather than diversifies risk, recommending it primarily for its earnings growth potential rather than a valuation discount. He continues to hold positions in SPMO and related stocks, emphasizing the fund's momentum strategy and growth outlook.