Deutsche Bank raises S&P 500 target to 5,500 from 5,100 based on strong earnings

From Investing.com: 2024-05-17 17:58:35

Deutsche Bank raised its year-end S&P 500 target to 5,500 from 5,100 based on a strong earnings cycle and anticipated market confidence growth by year’s end. Strategists predict continued recovery and support for equity multiples despite potential volatility from geopolitical risks and a hung election posing real risks for markets.

Deutsche Bank also adjusted its base case for S&P 500 earnings to $258 per share from $250, indicating a 13% year-over-year growth. If macroeconomic growth continues to exceed trends, earnings could reach $271 per share, at the upper end of the original forecast range.



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