Citi: US equities upgraded on 'growth-oriented' nature
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Citi lifts S&P 500 year-end target to 5600
June 18, 2024 7:16 AM EDTCiti 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,... More
JPMorgan: Will the more Defensive sector performance, seen so far in Q2, have legs?
June 17, 2024 11:55 AM EDTJPMorgan analysts believe the outperformance of defensive sectors in the second quarter will continue, in contrast to their lagging performance in Q1.
In a note Monday, the firm argues for a barbell approach favoring defensive sectors and commodities.
"Key bond proxy Defensive sectors - Utilities, Real estate and Staples - were the 3 worst performers in Q1," the note acknowledges. However, Q2 has seen a reversal, with... More
Evercore raises S&P 500 2024 year-end price target to 'Street high' 6,000
June 17, 2024 7:29 AM EDTEvercore ISI analysts increased their year-end price target for the S&P 500, citing the transformative power of artificial intelligence (AI).
In their note titled "The AI Revolution is in the Early Innings," Evercore ISI boosted their target to 6,000, a Street high, up from their previous estimate of 4,750.
This bullish outlook rests on several factors, according to Evercore ISI. The lingering effects of the... More
