‘Too many skunks at the party.’ Bank of America strategist charts S&P 500’s path to 5,000

Analysts continue to work as hard as Santa’s elves to get their big forecasts together. Count Bank of America’s Savita Subramanian among them as the equity and quantitative strategist lands our preholiday call of the day: The S&P 500 SPX will hit a record 5,000 for 2024 in a “stock picker’s paradise.”

Subramanian and her team offer up plenty of reasons for what looks like one of the most upbeat forecasts for next year thus far. RBC Capital’s Lori Calvasina also debuted a year-end S&P 500 price target of 5,000 on Wednesday.

…