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People walk by the headquarters of Morgan Stanley in New York in this June 1, 2012, file photo.
People walk by the headquarters of Morgan Stanley in New York in this June 1, 2012, file photo.
(ERIC THAYER/REUTERS)

Relax, S&P 500's peak is years away: Morgan Stanley

Here’s a comforting way of dealing with anxiety about record-high share prices: Forget about the next few months and focus on the longer term instead.

That way, according to Morgan Stanley strategists, you can easily build a case for the S&P 500 rising to 3,000 by 2020, up from about 2,000 today.

“We believe a prolonged period of deleveraging in the U.S., coupled with an uneven global recovery, are just two of the reasons why this could prove to be the longest U.S. expansion – ever,” said Adam Parker, Morgan Stanley’s chief U.S. equity strategist, and Ellen Zentner, senior economist, in a note.