Evercore raised year-end forecast on S&P500 Index to 6,000 (and 7000 possible by end 2025)

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Evercore raised year-end forecast on S&P500 Index to 6,000 (and 7000 possible by end 2025)

Evercore is a "global independent investment bank".

From an analysis note issued Sunday (US time):

• raised year-end forecast on the S&P 500 Index to 6,000
• 7000 possible by end 2025
• estimate for the index's per-share earnings in 2024 and 2025 to $238 and $251, respectively (imply a 8% and 5% profit growth)
  • says the $238 EPS pushed price to earnings to 25 (trailing basis), elevated by historical standards but short of the 28 level during the dot-com peak
• "The pandemic changed everything. Record stimulus, elevated cash balances and low leverage support the consumer. Then came AI. Today, GenAI's potential in every job and sector is inflecting. The backdrop of slowing inflation, a Fed intent on cutting rates and growth support Goldilocks."
  

If you want an 'off the chart' forecast, there it is. At least off this chart.

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: Evercore raised year-end forecast on S&P500 Index to 6,000 (and 7000 possible by end 2025)

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