BMO's Brian Belski raised his S&P 500 price target to 6,100, signaling 7% upside by year-end.
In a note on Thursday, Belski raised his S&P 500 price target for 2024 to 6,100, representing potential upside of 7% over the next three months.
Belski's prior 2024 price target for the S&P 500 was 5,600.
AdvertisementBelski also finds it encouraging that recent stock market gains have not been concentrated in just the mega-cap technology stocks.
AdvertisementBased on Belski's 6,100 price target, that implies a price-to-earnings ratio of 24.4x, which is above historical averages.
Persons:
Brian Belski, —, Belski, Belski's
Organizations:
Service, BMO, Wall, Federal, Fed