SP 500 2024 Outlook: Analysts Expect Flat Performance Despite EPS Growth
Analysts' Consensus: Median Target of 5200
According to estimates from strategists, the median target for the SP 500 index is set at 5200 by the end of 2024. This implies a decline of less than 1% from its current value. RBC anticipates that the rally mode witnessed in the latter part of 2023 will continue in 2024, resulting in further gains for the index.
8% EPS Growth, Flat Index
In 2024, SP 500 earnings per share (EPS) are projected to increase by 8%. However, the index is expected to remain flat at 5200 as the price-to-earnings (PE) multiple contracts slightly from its current level.
Average Target of 4902
Sell-side strategists estimate the average target for the SP 500 at 4902 for the end of 2024, implying an advance of 6.2% from the current value.
EPS Peak Delayed
Initially, the SP 500's EPS were anticipated to return to their March 2022 peak of $197.91 after June 2024. However, this target now appears unlikely to be achieved within the projected timeframe.
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