S&P 500 Index seen at 3,800 by end-2023 – SocGen SP500 Banks Fed China Growth
“The US equities risk premium is currently below average despite having declined this year, and we put the S&P 500’s fair value at 3,650 based on our inflation moderation valuation framework. But for 2023, we expect EPS to decline in 1Q23, a
pivot in 2Q, China’s reopening in 3Q and rising US recession risk in 4Q. These factors should see the S&P 500 trade in a wide range of 3,500-4,000 at somewhere around our 3,650 fair value number.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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