Analysts remain positive on U.S. equities despite recession risk

  • S&P 500 may rise to 5,100 by end of 2024, according to Citi Research analysts
  • Citi’s price target is based on estimated earnings per share of $245
  • Analysts lowered midyear 2024 target to 4,800 from 5,000
  • U.S. stock market has rallied during Q4, with S&P 500 trading around 4,607
  • Citi Research analysts positive on U.S. equities despite recession risk
  • Expect broadening of market beyond Mega Cap Growth leadership in 2023
  • S&P 500 has current P/E ratio of 20.7
  • Wall Street predictions for S&P 500 at end of 2024 vary widely

According to equity analysts at Citigroup, the S&P 500 index is projected to climb to 5,100 by the end of 2024. This forecast is based on the estimate that the S&P 500’s earnings per share will increase to $245. The analysts have lowered their midyear 2024 target to 4,800 from 5,000. Despite the Federal Reserve’s tightening of monetary policy, the U.S. stock market has rallied during the fourth quarter, with the S&P 500 trading around 4,607. Citi Research analysts remain positive on U.S. equities, expecting a broadening of the market beyond Mega Cap Growth leadership in 2023. The current price-to-earnings ratio of the S&P 500 is 20.7. Wall Street predictions for the S&P 500 at the end of 2024 vary widely.

Public Companies: Citigroup (C)
Private Companies:
Key People: Scott Chronert (Equity Analyst)

Track all markets on TradingView

Factuality Level: 7
Justification: The article provides information from Citigroup equity analysts about their price target for the S&P 500 index by the end of next year. It also mentions the current level of the index and its performance this year. The article includes quotes from the analysts and mentions differing predictions from other sources. Overall, the article provides factual information about the S&P 500 index and the opinions of Citigroup analysts.

Noise Level: 4
Justification: The article provides some analysis and predictions about the S&P 500 index, but it lacks depth and supporting evidence. It also includes repetitive information and irrelevant details about the current stock market performance.

Financial Relevance: Yes
Financial Markets Impacted: The article provides information on the S&P 500 index and its potential climb, which is relevant to financial markets and investors.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the potential climb of the S&P 500 index and provides insights from Citigroup equity analysts. While there is no mention of an extreme event, the information is relevant to financial markets and investors.

Reported publicly: www.marketwatch.com