Tuesday , 11 February 2025
Home Forex Bank of America have raised their S&P earnings outlook for 2024 and 2025
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Bank of America have raised their S&P earnings outlook for 2024 and 2025

Bank of America raised its 2024 earnings-per-share estimate for the S&P 500
to $250 from $235 ( & for 2025, Bank of America is forecasting EPS at $275, growing 10% year over year.

)

  • citing companies delivered a strong beat for the fourth quarter and bank’s economists raised their 2024 GDP forecast to 2.7% year over year from 1.4% (the GDP increase translates to 5 percentage points in additional EPS growth)
  • “2023 was a transition year for Corporate America, and companies have now adjusted to the new higher rate and tepid demand environment”
  • manufacturing downturn is coming to an end

More:

  • Microsoft
    , Amazon
    and Alphabet
    are entering a reinvestment cycle, expected to spend $180 billion in capital expenditures
  • “History suggests companies in reinvestment cycles underperform, but we see a potential virtuous cycle forming from AI (artificial intelligence) investments”

Separately:

  • Bank of America have a target for NVIDIA of USD1100 (prior $925)

This article was written by Eamonn Sheridan at www.forexlive.com.

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