CNBC Pro

Deutsche Bank sees 'slightly above average year' ahead with most of the earnings comeback priced in

Traders work the floor of the New York Stock Exchange.
NYSE

(This story is for CNBC Pro subscribers only.)

Deutsche Bank is calling for a strong earnings comeback in 2021, which should lift the broader market to about an average gain since a lot of this recovery is expected.

The Wall Street firm just released its 2021 year end price target of 3,950, an 8% jump from Thursday's close. Deutsche Bank also raised its 2020 earnings estimate for the S&P 500 to $141 from $133 per share and its 2021 earnings estimate to $194 from $173 per share.

Deutsche Banks's 2021 earnings estimate implies earnings growth of 38% next year.

More In Street Calls

CNBC ProOil could plummet to the $60s if a recession hits, Citi speculates
CNBC ProBuy shares of Crocs, which could climb 50% from here on `healthy sell through', Loop Capital says
CNBC ProJPMorgan trims price target for Tesla, says shares could fall more than 40% on weaker deliveries