Earnings growth for the S&P 500 to be flat in 2023, followed by 9% growth next year – UBS

FXStreet Insights Team FXStreet

The beginning of the third-quarter earnings season has been relatively lackluster. Economists at UBS analyze equities outlook.

US earnings set to improve, despite slow start

We continue to expect S&P 500 EPS growth of 3-4% in the third quarter, representing a beat of a similar magnitude relative to consensus expectations.

Overall, we expect earnings growth for the S&P 500 to be flat this year, followed by 9% growth next year.

We maintain our June 2024 and December 2024 S&P 500 price targets of 4,500 and 4,700, respectively, from 4,224 at the end of last week.

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