Analysts from Macquarie Group Ltd (ASX: MQG) have indicated that the ASX 200 will hit 6,500 points in 2018.
With the ASX kicking off on Thursday at around 5,986 points, Macquarie's forecast would represent an increase of about 8.6 per cent.
The last time the ASX soared to such heights was in November 2007.
Macquarie strategists told clients that a mild cyclical uplift could support earnings in the industrials space, according to Fairfax Media Limited (ASX: FXJ).
"We think Australia is in a sweet spot and similar to where the US market was 18-24 months ago," according to Macquarie strategists.
"That is, before the Fed began to raise policy rates, before there was any hint around rising wage costs and when the full benefits of a weaker currency were flowing through to corporate earnings."
Credit Suisse has also been bullish on its outlook for the ASX 200, according to Bloomberg.
Strategist Hasan Tevfik is also tipping the index to finish 2018 at 6,500.
Depending on how you look at things, it comes as more good news on the back of UBS's recent forecast
"We retain our overweight in resources, in part due to an expectation of solid global growth supporting commodity prices, but also because of relatively undemanding valuations and the ability of the resource sector to act as a hedge against rising inflation and interest rates," according to UBS.
As such, UBS is backing BHP Billiton Limited (ASX: BHP) to have a good year.
UBS also thinks, perhaps a bit more surprisingly, that the future looks bright for Woolworths Limited (ASX: WOW), despite Amazon's looming presence, and Qantas Airways Limited (ASX: QAN), regardless of indications that the price of oil may be set to climb.
Still, hopefully 2018 will be a great year for investors.
Time will tell.
