Deutsche Bank makes the highest S&P 500 forecast on Wall Street — and says that may be too conservative

Deutsche Bank appears to be sitting at the top of Wall Street’s 2024 forecasts for the S&P 500, with a call for the index to reach 5,100 that its strategists say may turn out to be conservative.

A team led by Bankim Chadha, the chief U.S. equity & global strategist, said the S&P 500 SPX has seen solid earnings this year, but “perceptions” remain lackluster, due to still low year-over-year earnings per share (EPS) growth and corporate uncertainty over the macroeconomic outlook. They say that could change in the fourth quarter…