Barclays raised its year-end 2024 goal for the S&P 500 to five,300 from 4,800
- displays our view that inflation will proceed to normalize whereas the financial system stays comparatively resilient, and that Huge Tech will preserve management in earnings progress
S&P 500 earnings estimate for full-year 2024 to $235 per share from $233
Bull and bear case extremes:
- robust Huge Tech earnings might push the index to six,050
- disappointing outcomes together with a weakening financial backdrop might ship the index right down to 4,500
“We believe that risk/reward is tilted toward the bull case, as macro data suggest that the odds of an economic re-acceleration are beginning to outweigh the probability of even a mild recession”
