Connect with us

Hi, what are you looking for?

Uncategorized

Deutsche Bank expects S&P 500 to end 2024 at 5100, new Street high

© Reuters. Deutsche Bank expects S&P 500 to end 2024 at 5100, new Street high

Deutsche Bank strategists anticipate that the will surge to a record 5,100 by the end of the next year.

Analysts at the European banking giant say stock valuations are not excessively high, with fair value estimated at 18x and a range of 16x-20x.

Despite solid earnings growth, market perceptions remain subdued, which leaves enough room for valuations to re-rate higher. While Deutsche sees a “mild short” recession next year, it still expects earnings for companies in the S&P 500 to rise 10%.

“If earnings growth continues to recover as we forecast, valuations will remain well supported around the top of the range as is typical on the pricing in of a pickup in earnings growth,” the analysts said.

The analysts note that the market appears to be following a historical pattern of sharp, short-lived selloffs followed by rapid recoveries. They predict that stocks may experience a modest, brief selloff in the event of a slowdown or recession.

Moreover, they highlight the historical tendency for equities to rally after U.S. presidential elections, irrespective of the winning party. The analysts identify the tight labor market as a significant upside risk, historically preceding periods of rapid productivity growth.

According to Reuters, the median 2024-end forecast for the S&P 500 is 4700. Recently, analysts at RBC Capital Markets and Bank of America said they expect the U.S. benchmark index to end the next year at 5000.

Read the full article here

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

News

Если вы ищете что-то более экзотическое, обратите внимание на Казино Сингапур. Здесь вы найдете не только классические слоты, но и уникальные автоматы, которые нельзя...

Uncategorized

By the telling friends regarding the game and you may inviting them to register, you’ll discovered 40 totally free revolves. You will only be...

Uncategorized

Artikuj Aplikacioni SpinBetter për iOS: Kazino Dragonslots Cilat janë fitimet e kufizimit në lidhje me Historinë larg hostit të slotit të vdekur? Luaj video...