Believing sentiment sentiment and revision trends have ‘bottomed’, BMO chief investment strategist Brian Belski raises his TSX forecast for 2024

Believing sentiment sentiment and revision trends have ‘bottomed’, BMO chief investment strategist Brian Belski raises his TSX forecast for 2024“We frequently get asked what we think is the biggest risk facing the Canadian banking sector right now. Our answer is not rates, nor housing, and not even regulation, all of which are important issues, but rather something bigger than all of that — namely the outlook for the Canadian economy.

“We are increasing our S&P/TSX price target to 24,500 from 23,500. While this is a minor 4% increase to our price target, it reflects multiple signs that both sentiment and revision trends have bottomed and are beginning to improve, which we believe will be a key tailwind for valuation expansion into year-end. We are not increasing our 2024 EPS target at this point, given the bottoming of revision trends are likely more supportive of 2025 EPS.

CIBC’s Benjamin Tal was one of the few to correctly predict the BoC’s rate moves so far this year. Here is what he’s forecasting now

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Chinese Stocks Stage a Rally That’s Yet to Convince Global FundsChinese stocks may have bottomed, but money managers are reluctant to return en masse.
Fuente: BNNBloomberg - 🏆 83. / 50 Leer más »

BMO analyst sees inflection point for bank stocks, provides top picksDaily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
Fuente: globebusiness - 🏆 31. / 66 Leer más »

Slow sales in Canada's housing market boon for affordability, rate cuts: BMO'When it comes to Canadian housing, calm is good,' says BMO's chief economist.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »