S&P 500 Could Hit 5,200 by End of 2024 on Falling Inflation and Strong Earnings Growth, Says Bullish Forecaster Tom Lee
• S&P 500 forecast to rally to 5,200 by end of 2024 (14% above current level) by Tom Lee, head of research at Fundstrat
• Falling inflation should lead to lower rates and faster easing of financial conditions, boosting earnings and valuations
• U.S. likely avoids recession in 2024, though labor market weak in H1
• Expects 8.3% EPS growth for S&P 500 companies to $260, driven by recovery in capital expenditures
• Lee remains one of the most bullish forecasters on Wall Street; called 2023 stock market rally