Analysts at UBS target the S&P 500 at 4,900 in June 2024 and 5,000 in December 2024
Citing:
- “benign” macroeconomic backdrop healthy economy:
- unemployment remained low, labor market cooled, real wages rose, consumer finances intact
- a "fine" earnings season in Q4 2023
- expects company earnings have risen 4% to 5% y/y in Q4, and thus likely that earnings beats of 3% to 5% to be expected
UBS says a soft landing has largely been priced into equities. And thus tips to wait for price pullback entry points.
