Strategists cite rising stock buybacks, strong corporate earnings and robust inflows
Deutsche Bank has raised its year-end target for the benchmark S&P 500 index to 5,750 points from 5,500, citing rising stock buybacks, strong corporate earnings and robust inflows, boosted by strong risk appetite.
In May, Deutsche Bank raised its year-end target for the S&P to 5,500, banking on strong corporate earnings to support equity valuations. It added that fears of a cooling labor market have been put to rest with August payrolls growth steadying on a year-to-date basis. The brokerage expects share buybacks to rise to about $1.2 trillion next year as they keep up with earnings, from the current $1 trillion.
Target Index Line Brokerage Strategist Growth Deutsche Deutsche Bank S&P Binky Chadha
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