Citgroup have forecast higher for the S&P 500 in 2024 in their Outlook Report.
Analysts at the bank have set a base case projection at 5100 by the end of next year. Citing:
- "a broadening beyond 2023’s Growth leadership is necessary for further S&P 500 gains"
- "on improving earnings growth, even as recession risk lingers" (see EPS rising to 10.4%)
- expecting increased volatility but "investors should be prepared to buy into pullbacks"
Further ahead:
- "Our concern is that fiscal restraint enters the 2025 picture either via higher tax proposals or lower spending as debt ceiling issues resurface"
Info comes via CNBC (gated).
