US Equity Market Outlook Update Pt 1 - Thoughts On Our Revised S&P 500 Targets

By Lori Calvasina
Published May 31, 2023 | 7 min listen

Today in the podcast, part 1 of our US equity market outlook update, we discuss our revised S&P 500 forecasts and general thoughts on our broader US equity market call. Two big things you need to know: First, we are lifting our YE 2023 S&P 500 price target from 4,100 to 4,250, which represents our base case. The range of outcomes in our modeling spans ~3,800 (our bear case) to ~4,600 (our bull case). Second, we are lifting our 2023 S&P 500 EPS forecast to $213 from $200 and are introducing our 2024 EPS forecast of $223. Stay tuned for part 2 of our outlook update, which will dig into our thoughts on US vs. non-US equities, Growth vs. Value, and Small Cap.

Disclosures and Disclaimers

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Lori Calvasina

Lori Calvasina
Managing Director & Head of U.S. Equity Strategy, RBC Capital Markets

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