RBC Calls Itself 'A Nervous And Jumpy Bull' As It Raises S&P 500 Outlook
Portfolio Pulse from Michael Juliano
RBC Capital Markets has raised its 2024 price target for the S&P 500 from 5,300 to 5,700, despite concerns about market valuations and sentiment. RBC's analyst Lori Calvasina described the outlook as 'nervous and jumpy,' noting potential short-term pullbacks but overall upward movement. RBC also issued a preliminary median price target of 6,159 for 2025, with a range of 5,900 to 6,400. The outlook is influenced by economic conditions, political factors, and consumer behavior.
July 02, 2024 | 10:10 pm
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RBC Capital Markets has raised its 2024 price target for the S&P 500, which is tracked by the SPDR S&P 500 ETF Trust (SPY), from 5,300 to 5,700. Despite concerns about market valuations and sentiment, RBC sees potential for upward movement, with a preliminary 2025 target of 6,159.
RBC's raised price target for the S&P 500 directly impacts SPY, which tracks the index. The positive outlook, despite some concerns, suggests potential for upward movement in SPY's price.
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