1 Vanguard ETF That Could Soar 41.5% in the Remainder of 2024, According to a Select Wall Street Analyst
Wall Street doesn't always get things right, but Tom Lee from Fundstrat Global Advisors is one analyst with a hot hand right now. He predicted the S&P 500 index would close above 4,750 in 2023, and it ended the year at 4,769. He also entered 2024 with an S&P index target of 5,200, which was the highest on Wall Street at the time, and the index blew past that level within the first three months.
Lee also predicted the Russell 2000 could soar 50% in 2024. This index is home to approximately 2,000 of the smallest listed stocks in the U.S., with the largest company in the index worth just $53 billion. Lee cites valuations and the potential for lower interest rates as key reasons for his prediction.
The Russell 2000 had a sluggish first half of 2024, so it will have to climb 41.5% between now and the end of the year to meet Lee's forecast. The Vanguard Russell 2000 ETF (NASDAQ: VTWO) closely tracks the performance of the index, so it's a simple way for investors to capture that gain if he turns out to be right.
Source Fool.com
