Citigroup analysts have raised their S&P 500 target for the end of this year by 600 points to 4,600, a revision they said reflects the increased chances of a...
Citigroup analysts have raised their S&P 500 index target for the end of this year by 600 points to 4,600, a revision they said reflects the increased chances of a “soft landing” for the U.S. economy.
The... Citigroup analysts have raised their S&P 500 index target for the end of this year by 600 points to 4,600, a revision they said reflects the increased chances of a “soft landing” for the U.S. economy. The S&P 500 SPX has seen a strong rally so far this year, finishing Friday at 4,582.23. That’s its highest closing value since April 4, 2022, bringing the index’s year-to-date gains to 19.3%, according to Dow Jones Market Data.“No doubt, these new targets will be perceived as chasing the year-to-date move in the S&P 500,” the analysts said. “They better reflect an evolving macro and fundamental backdrop.
“The ability of the Fed to perfectly thread the needle is still questionable,” the Citi analysts said. The central bank has this year slowed the pace of interest-rate hikes, which are aimed at lowering inflation.
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