“Our 2024 [year end] target is 5,200, which is 20x 2025 EPS of $260 — one of the most bullish S&P 500 targets on Wall Street.”

The S&P 500 closed 2024 at 5,881.63, about 13% above Lee's 5,200 target. He was among the most bullish strategists and directionally right about a second straight 20%+ year, but the level itself was far too low — he raised the target to ~5,800 by June 2024.