Citi lifts S&P 500 year-end target to 5600

N

Nighthawk

Published 06/18/2024, 07:16 AM

Citi analysts have raised their S&P 500 year-end 2024 target to 5600 while also initiating mid- and full-year 2025 projections of 5700 and 5800, respectively, in a note Tuesday.

According to Citi, "Our full-year earnings estimate is increased to $250 from a long-standing above-consensus $245 estimate. For '25, we initiate a $270 estimate."

Citi's analysis considers three key influences: NVDA, other major growth stocks, and the remainder of the index.

"Valuations can hold into year-end but are expected to compress during '25," Citi stated, emphasizing the significant impact of mega-cap growth stocks on index performance. "The weighting effect of the mega-cap growth cohort is exerting an outsized influence on index price action."

The +14.6% year-to-date return of the index is attributed to the three components: NVDA (4.1%), the rest of the major growth stocks (5.1%), and the "other 493" stocks (5.4%). Citi noted, "The first two components have shown ongoing positive revisions to '24 earnings estimates."

https://www.investing.com/news/stoc...s-sp-500-yearend-target-to-5600-432SI-3488308

Citi´s year end target has just been reached. What could possibly go wrong? :sneaky::D
 
Why stop at 5600....just go with 7300 by end of year and a nasdaq close of 30,000.

Lots of forecasts being upped the last few months. Everyone is tripping over each other to keep the upping of the s&p.targets in check.....

These markets are starting to act more crazier than 1999. Defying all gravity. ....
 
What a joke Citibank has become. Just like JP Morgan they have missed the entire rally from November 2022 onwards. Who would have thought banks would be permabears.

The chief strategist from JP Morgan just got fired last week because he missed the entire AI train. Mike Wilson who still has a job at JP Morgan is still bearish. These guys should all be fired ASAP.
 
Have mkts ever screamed to 36 highs , horrid overall earnings , 20 yr high rates , one of the highest valuations ever ? Every bubble you say this is crazier than the last bubble . And here we go again . What sticks out about this bubble is overall dead earnings and a sideways dead economy . Wall Street ran with Ai just like they ran with the internet . In 2007 it was private equity buyouts . Ai is nothing like the net . If anything it’s a huge job killer .
 
SammyJ said:
Have mkts ever screamed to 36 highs , horrid overall earnings , 20 yr high rates , one of the highest valuations ever ? Every bubble you say this is crazier than the last bubble . And here we go again . What sticks out about this bubble is overall dead earnings and a sideways dead economy . Wall Street ran with Ai just like they ran with the internet . In 2007 it was private equity buyouts . Ai is nothing like the net . If anything it’s a huge job killer .
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I said this months ago, no one and I mean no one is even willing to understand hiw many jobs will be lost to ai, they have stayed millions and millions and millions of jobs will be gone over the next 5 to 10 years.
 
S2007S said:
I said this months ago, no one and I mean no one is even willing to understand hiw many jobs will be lost to ai, they have stayed millions and millions and millions of jobs will be gone over the next 5 to 10 years.
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I love how some of you guys get so wrapped around the axle of the latest thing.
 
ktm said:
I love how some of you guys get so wrapped around the axle of the latest thing.
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You don't believe ai is going to take millions of jobs away???

I mean with the hype of how powerful ai is its almost a 99.9% guarantee its happening.
 
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