News Formal

Deutsche Bank raises year-end S&P 500 forecast: 'We see the earnings cycle having plenty of legs'

  • 📰 CNBC
  • ⏱ Reading Time:
  • 7 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 72%

Investment Strategy News

Stock Markets,S&P 500 Index,Deutsche Bank AG

The firm sees the S&P 500 rising more than 3% by the end of the year.

Deutsche Bank sees more room for the S & P 500 to run this year as strong earnings growth drives multiples. Binky Chadha, the firm's chief U.S. equity and global strategist, raised his year-end forecast for the broad index to 5,500 from 5,100. That level implies the benchmark average can add another 3.7% from where it finished last week. That call comes as Chadha hiked his outlook for earnings per share in the year by $8 to $258, which equates to a 13% increase from 2023.

Morgan Stanley stock strategist Mike Wilson raises S&P 500 forecast to 5,400 after bearish call on 2024 fails to pan out

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Just in: Deutsche Bank lifts S&P 500 target on strong earningsJust in: Deutsche Bank lifts S&P 500 target on strong earnings
Source: Investingcom - 🏆 450. / 53 Read more »

Deutsche Bank Q1 profit jumps 10% as investment bank outperformsDeutsche Bank Q1 profit jumps 10% as investment bank outperforms
Source: Investingcom - 🏆 450. / 53 Read more »

Chubb is 'ideal fit' for Warren Buffett's investment style, says Deutsche BankWarren Buffett's purchase of 6.4% of Chubb makes perfect sense as the insurer checks all the boxes of his investment criteria, according to Deutsche Bank.
Source: CNBC - 🏆 12. / 72 Read more »