The S & P 500 has more room for upside in 2024, according to RBC Capital Markets head of U.S. equity strategy Lori Calvasina.
The upgrade comes as the S & P 500 wraps up a monster start to the year.
The strategist also expanded her 2024 earnings forecast to $237 from $234, which underpins her overall higher outlook for the S & P 500.
Calvasina also laid out her bull case, which has the S & P 500 soaring to 5,400, nearly 3% above Wednesday's close.
The current signal is little changed from her January S & P 500 forecast, where she also said U.S. equities appeared to be overbought.
Persons:
Lori Calvasina, Calvasina
Organizations:
RBC Capital Markets, CNBC's Market, Survey