Bank of America boosts S&P 500 target to 5,400. Here’s how it got there.

Futures suggest Wall Street’s new week will get off to a cautious start, albeit with major stock barometers holding at record highs. Over just the last three months the Nasdaq Composite COMPhas climbed 13.8% and the S&P 500 SPXhas gained 11.8%. Worrywarts are seeking synonyms for bubble.But a team at Bank of America, led by Savita Subramanian, equity and quant strategist, remains bullish, increasing their end of year S&P 500 target from 5,000 to 5,400. To be clear, Subramanian says