Posted 12/28/2023, 7:06:00 PM
Strategist Tom Lee Stays Bullish, Forecasts S&P 500 to Hit 5,200 in 2024 on Easing Rates, Strong Earnings
- Fundstrat's Tom Lee accurately predicted the S&P 500 would end 2023 around 4,750, when others were bearish
- For 2024, he expects the S&P 500 to reach 5,200, representing 9% upside
- Easing financial conditions from lower interest rates should boost housing and consumers
- He forecasts 11% earnings growth in 2024 to $240 per share, driven by higher business investment
- His top ideas for 2024 are small caps, financials, industrials, and technology stocks