首页 News 正文

Wall Street's highest target price: S&P 500 points out that it can rise to 6000 points by the end of the year!

hughmini
1280 0 0

This year, driven by the wave of artificial intelligence (AI), the S&P 500 index has repeatedly hit new highs, and the target prices shouted by Wall Street leaders are also getting higher and higher.
Following UBS's high target price of 5600 points, Wall Street bear Julian Emanuel, Chief Stock and Quantitative Strategist at Evercore ISI, raised his year-end forecast for the S&P 500 index to 6000 points. This is the highest among major stock strategists tracked by the media, about 10.5% higher than the closing point of the S&P 500 index last Friday.
Emanuel was also one of the most famous bears on Wall Street, having previously predicted that the index would close at 4750 points this year. However, he now predicts that by the end of 2024, the S&P 500 index will experience another double-digit increase.
The optimistic sentiment of investors towards economic resilience, improved corporate profits, and the end of the Federal Reserve's tightening cycle has driven the S&P 500 index up more than 14% this year. Emanuel stated that the easing of inflation and enthusiasm for artificial intelligence will further boost the stock market.
Throughout Wall Street, his latest forecast is higher than the 5600 points predicted by David Kostin of Goldman Sachs, Jonathan Golub of UBS, and Brian Belski of BMO Capital Markets. At present, JPMorgan seems to have become the only "bear" on Wall Street, with a target price of 4200 points, which means the index will fall more than 20% from last Friday's closing level.
Emanuel wrote in a report to clients last Sunday that the pandemic has changed everything. Record breaking stimulus measures, higher cash balances, and lower leverage support consumers. Then there is artificial intelligence. Nowadays, the potential of GenAI (Generative Artificial Intelligence) is changing in every job position and industry.
"The background of slowing inflation, intentional interest rate cuts by the Federal Reserve, and economic growth supports the 'blonde girl' scenario," he added. The "blonde girl" economy usually refers to an economy where high growth and low inflation coexist.
Emanuel also raised his expectations for the S&P 500 index's earnings per share for 2024 and 2025 to $238 and $251, respectively, with an expected year-on-year growth of 8% and 5%.
He also said that if the S&P 500 index jumped to 6000 points before the end of December, with an earnings per share of $238, the P/E ratio of the index would increase to 25 times, but still lower than 28 times during the peak of the Internet foam. He added that the P/E ratio of the S&P 500 index may remain high for an "extended period of time".
He also believes that by the end of 2025, the S&P 500 index may rise to 7000 points.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
您需要登录后才可以回帖 登录 | 立即注册

本版积分规则

  •   知名做空机构香橼研究(Citron Research)周四(11月21日)在社交媒体平台X上发布消息称,该公司已决定做空“比特币大户”微策略(Microstrategy)这家公司,并认为该公司已经将自己变身成为一家比特币投资基金 ...
    caffycat
    昨天 11:18
    支持
    反对
    回复
    收藏
  •   每经AI快讯,11月20日,文远知行宣布旗下自动驾驶环卫车S6与无人扫路机S1分别在新加坡滨海湾海岸大道与滨海艺术中心正式投入运营。据介绍,这是新加坡首个商业化运营的自动驾驶环卫项目。 ...
    star8699
    3 天前
    支持
    反对
    回复
    收藏
  •   上证报中国证券网讯(记者王子霖)11月20日,斗鱼发布2024年第三季度未经审计的财务报告。本季度斗鱼依托丰富的游戏内容生态,充分发挥主播资源和新业务潜力,持续为用户提供高质量的直播内容及游戏服务,进一步 ...
    goodfriendboy
    3 天前
    支持
    反对
    回复
    收藏
  •   人民网北京11月22日电 (记者栗翘楚、任妍)2024广州车展,在新能源汽车占据“半壁江山”的同时,正加速向智能网联新能源汽车全面过渡,随着“端到端”成为新宠,智能驾驶解决方案成为本届广州车展各大车企竞 ...
    3233340
    昨天 17:06
    支持
    反对
    回复
    收藏
hughmini 新手上路
  • 粉丝

    0

  • 关注

    0

  • 主题

    2