Bank of America Raises S&P 500 Target on Bullish 2023 Outlook Despite Risks

Bank of America boosted its S&P 500 target to 4,600 from 4,300 based on recession being averted
BofA's "highest conviction call" is equal-weighted S&P 500 outperforming regular S&P 500
Megacap tech more vulnerable to threats like China iPhone demand drop
When consensus forecast is for S&P 500 decline, index historically does better
BofA's 4,600 target one of highest on Wall Street, signaling potential gains

yahoo.com

Relevant topic timeline:

9/4/2023

Stocks tend to plummet in September - but expect a better month this year, Bank of America says

Bank of America's technical strategist believes that despite historically poor September performance, the S&P 500's year-to-date rally positions it for further gains, with the potential for an 8% climb by the end of the year.

9/6/2023

Treasury yield jump is not 'death to equities,' BofA's Savita Subramanian says

Bank of America Securities' Savita Subramanian sees the recent jump in Treasury yields as a positive signal for the economy, with companies focusing on efficiency and productivity rather than leveraging buybacks and cheap financing costs, driving the next leg of the bull market.

9/17/2023

BofA: S&P 500 Could See 25% Surge in 2023 Based on Profit Growth Expectations

Bank of America predicts that the S&P 500 could surge over 25% within the next year based on a bullish indicator, with low long-term profit growth expectations among analysts signaling potential gains.

9/17/2023

Market Strategists Forced to Revise Downward Forecasts as Unexpected Rally Continues

Stock-market strategists are raising their year-end targets for the S&P 500 Index after being largely wrong about this year's rally, but they still expect a market downturn in 2024 despite signs of a strong economy and improving profit outlook.

9/20/2023

Bank of America Strategist Raises S&P 500 Target Again, Sees Index Ending 2022 at 4,600

Bank of America's stock-market strategist has increased her year-end target for the S&P 500 index to 4,600, predicting a 3.5% climb for the large-cap benchmark.

9/26/2023

JPMorgan Strategist Forecasts New Stock Market High by 2024 as Inflation Cools and Fed Pivots to Rate Cuts

The S&P 500 is expected to reach a new all-time high by mid-2024 as the Federal Reserve is projected to stop raising interest rates, according to JPMorgan strategist AJ Oden. This forecast suggests a minimum increase of 12% from current levels.

9/27/2023

Bank of America Upgrades Stocks Outlook, Names Fisker as Top Electric Vehicle Pick

Bank of America's head of US equity & quantitative strategy, Savita Subramanian, is bullish on the markets for the final quarter of 2023, citing opportunities in AI, a resurgence in US manufacturing, and a bearish sentiment that typically precedes market gains.

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Posted 9/20/2023, 3:50:20 PM

Bank of America Raises S&P 500 Target on Bullish 2023 Outlook Despite Risks

Bank of America boosted its S&P 500 target to 4,600 from 4,300 based on recession being averted
BofA's "highest conviction call" is equal-weighted S&P 500 outperforming regular S&P 500
Megacap tech more vulnerable to threats like China iPhone demand drop
When consensus forecast is for S&P 500 decline, index historically does better
BofA's 4,600 target one of highest on Wall Street, signaling potential gains

yahoo.com

Relevant topic timeline:

9/4/2023

Stocks tend to plummet in September - but expect a better month this year, Bank of America says

9/6/2023

Treasury yield jump is not 'death to equities,' BofA's Savita Subramanian says

9/17/2023

BofA: S&P 500 Could See 25% Surge in 2023 Based on Profit Growth Expectations

9/17/2023

Market Strategists Forced to Revise Downward Forecasts as Unexpected Rally Continues

9/20/2023

Bank of America Strategist Raises S&P 500 Target Again, Sees Index Ending 2022 at 4,600

Bank of America's stock-market strategist has increased her year-end target for the S&P 500 index to 4,600, predicting a 3.5% climb for the large-cap benchmark.

9/26/2023

JPMorgan Strategist Forecasts New Stock Market High by 2024 as Inflation Cools and Fed Pivots to Rate Cuts

9/27/2023

Bank of America Upgrades Stocks Outlook, Names Fisker as Top Electric Vehicle Pick