Bank Of America Raises S&P 500 Price Target To 5,400, Warns Of Near-Term Pullback
Bank Of America Raises S&P 500 Price Target To 5,400, Warns Of Near-Term Pullback
Bank of America has raised its S&P 500 price target to 5,400, but not without a word of caution. The bank predicts a near-term pullback before the market resumes its rally.
美国银行已将标准普尔500指数的目标股价上调至5,400，但并非不谨慎行事。该银行预测，在市场恢复涨势之前，短期内将出现回调。
What Happened: The bank's analysts have revised their S&P 500 price target upwards to 5,400, marking a 5% increase from current levels, reported Business Insider. This new forecast represents a 13% gain for the entire year.
发生了什么：据《商业内幕》报道，该银行的分析师已将标准普尔500指数的目标股价上调至5,400，较目前的水平上涨了5％。这一新预测表示全年增长13％。
Despite the bullish forecast, analysts have warned investors to brace for a near-term pullback. They note that the stock market has not experienced a significant drop in four months, and historically, such dips are followed by a rally.
尽管预测看涨，但分析师警告投资者为短期的回调做好准备。他们指出，股市已经四个月没有经历过大幅下跌，从历史上看，这种下跌之后会出现反弹。
"Also, the VIX has increased by 25% from Q2 to November of prior presidential election years. But post-election day, returns have generally been positive from the removal of uncertainty," they wrote.
“此外，从前几年的第二季度到11月，VIX增长了25％。但是在选举日之后，由于消除了不确定性，回报率总体上是积极的，” 他们写道。
The bank's analysts have also noted a decrease in their bullish conviction. This revised forecast is due to a weaker emphasis on its sell-side indicator and adjustments to its other measures.
该银行的分析师还指出，他们的看涨信心有所下降。这一修订后的预测是由于对卖方指标的重视减弱以及对其他指标的调整。
One of the major reasons for the higher price target is the strength of earnings. The analysts believe that stocks may be in for positive surprises due to weak guidance on upcoming performance, likely caused by conservative estimates.
提高目标股价的主要原因之一是收益强劲。分析师认为，由于对即将到来的表现的指导不力，股票可能会出现积极的意外，这可能是保守估计造成的。
Why It Matters: The S&P 500 has been on a remarkable rally, particularly in the tech sector. A Goldman Sachs specialist recently attributed this rally to sustainable and enduring fundamentals.
为何重要：标普500指数一直在大幅上涨，尤其是在科技板块。高盛的一位专家最近将这次涨势归因于可持续和持久的基本面。
However, not everyone is convinced of the sustainability of this rally. Torsten Sløk, chief economist at Apollo Global Management, has warned of an AI bubble, with the top 10 companies in the S&P 500 today having a higher forward price-to-earnings (P/E) ratio than the top 10 companies had in the mid-1990s during the tech bubble.
但是，并非所有人都相信这次涨势的可持续性。阿波罗环球管理首席经济学家托斯滕·斯洛克警告说，人工智能泡沫将出现，今天标普500指数中排名前十的公司的远期市盈率（P/E）高于1990年代中期科技泡沫期间排名前十的公司。
Similarly, Jeremy Siegel, a finance professor at the University of Pennsylvania's Wharton School, has cautioned that the current enthusiasm for tech stocks, including Nvidia, might be a sign of an impending bubble.
同样，宾夕法尼亚大学沃顿商学院金融学教授杰里米·西格尔警告说，目前对包括英伟达在内的科技股的热情可能是泡沫即将来临的迹象。
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在 MidJourney 上通过 AI 制作的图片