S&P 500 Index has further to go, with year-end target of 5,100 – Deutsche Bank
Source Fxstreet
Feb 22, 2024 15:33
Economists at Deutsche Bank expect the S&P 500 Index to extend its race higher over the course of the year.
S&P 500 to 5,100 by Q4 2024
We set a 2024 S&P 500 year-end target of 5,100.
All measures of earnings beats in the US are well above the upper end of their pre-pandemic ranges, typically seen in early stages of recovery from major cyclical downturns; Multiple staying near 20x, a little higher than fair value at 18x; Catalysts impacting the trajectory include rates vs. rates vol, inflation, the US presidential election, and potential productivity gains.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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