Investor Sentiment Mixed for 2024
Despite initial optimism for a strong bull market in 2024, the overall attitude among investors has become increasingly uncertain. Major banks’ expectations for the year range from very bullish to anticipating struggles and volatility. While the crypto market has experienced a downturn, the stock market remains strong, with the S&P 500 reaching a new all-time high. Experts and analysts have been constantly adjusting their price targets and lowering expectations for prominent stocks.
Charles Schwab (NYSE: SCHW)
Analyst Benjamin Budish from Barclays lowered his price target for Charles Schwab from $68 to $64. However, he maintained a neutral stance on the stock, suggesting it will perform in line with the industry average. The wider analyst consensus remains optimistic, with an average target of $72.39.
Boeing (NYSE: BA)
Following an incident where a Boeing 737 MAX 9 airplane door detached mid-air, analyst Charles Minervino reduced his target for Boeing from $306 to $279. Despite this, the analyst remained positive about the aviation giant’s prospects. The average estimate from analysts still predicts an upside for Boeing stock at $267.84.
Tesla, Inc. (NASDAQ: TSLA)
Despite Tesla’s successful year in terms of stock market growth and vehicle deliveries, analyst Adam Jonas from Morgan Stanley lowered his price target from $380 to $345 per share. However, Jonas still maintains a bullish stance on TSLA stock, with a 64% upside predicted from the current price. Analysts are generally neutral on Tesla, with an average price target of $249.75.
Hot Take: Mixed Expectations and Adjustments in 2024
As the new year progresses, investor sentiment remains mixed, with expectations and price targets constantly being adjusted. While some analysts have lowered their outlook for certain stocks, others maintain optimism. It is important for investors to stay informed and closely monitor market trends to make informed decisions in this ever-shifting landscape.
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