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

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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

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