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
"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.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.
美國銀行已將標準普爾500指數的目標股價上調至5,400，但並非不謹慎行事。該銀行預測，在市場恢復漲勢之前，短期內將出現回調。
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.
發生了什麼：據《商業內幕》報道，該銀行的分析師已將標準普爾500指數的目標股價上調至5,400，較目前的水平上漲了5％。這一新預測表示全年增長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.
儘管預測看漲，但分析師警告投資者爲短期的回調做好準備。他們指出，股市已經四個月沒有經歷過大幅下跌，從歷史上看，這種下跌之後會出現反彈。
"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，從前幾年的第二季度到11月，VIX增長了25％。但是在選舉日之後，由於消除了不確定性，回報率總體上是積極的，” 他們寫道。
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.
該銀行的分析師還指出，他們的看漲信心有所下降。這一修訂後的預測是由於對賣方指標的重視減弱以及對其他指標的調整。
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.
提高目標股價的主要原因之一是收益強勁。分析師認爲，由於對即將到來的表現的指導不力，股票可能會出現積極的意外，這可能是保守估計造成的。
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.
爲何重要：標普500指數一直在大幅上漲，尤其是在科技板塊。高盛的一位專家最近將這次漲勢歸因於可持續和持久的基本面。
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，並非所有人都相信這次漲勢的可持續性。阿波羅環球管理首席經濟學家託斯滕·斯洛克警告說，人工智能泡沫將出現，今天標普500指數中排名前十的公司的遠期市盈率（P/E）高於1990年代中期科技泡沫期間排名前十的公司。
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.
同樣，賓夕法尼亞大學沃頓商學院金融學教授傑里米·西格爾警告說，目前對包括英偉達在內的科技股的熱情可能是泡沫即將來臨的跡象。
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