U.S. markets surprised to the upside last year, as the S&P 500 Index ($SPX) defied all pessimism to rise almost 24%. Just like last year, analysts were also bearish on U.S. stocks as we headed into 2024. However, the S&P 500 is already up by double digits this year, and is trading at record highs.
Amid the continued rally, several analysts have raised their year-end targets for the S&P 500. That includes Oppenheimer raising its forecast to 5,500, which is the highest among major brokerages. HSBC also raised its 2024 target for the S&P 500 to 5,400, in line with estimates from UBS and BofA Global Research.
