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2023-07-31

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Citigroup Lifts S&P 500's Year-End Target to 4,600

- Citigroup raised its year-end target for the S&P 500 by 15% as it now sees a higher probability of a soft landing for the U.S. economy, as well as, an earnings upside.The bank sees the S&P 500 ending 2023 at 4,600 points, a 0.4% uptick from Friday's closing of 4,582.23.For 2024, the outlook seems brighter with Citi seeing the index jump to 5,000 points, up from a previous forecast of 4,400, and about 9% from current levels.Citi pushed out its probability of a U.S. recession to the first half

Citigroup Lifts S&P 500's Year-End Target to 4,600

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The new S&amp;P 500 projections better reflect that, the bank&#39;s strategists said.</p><p>The Wall Street bank now projects earnings of $220 per share in 2023 for companies on the S&amp;P 500, up from the $215 projected earlier.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2355600770","content_text":"(Reuters) - Citigroup raised its year-end target for the S&P 500 by 15% as it now sees a higher probability of a soft landing for the U.S. economy, as well as, an earnings upside.The bank sees the S&P 500 ending 2023 at 4,600 points, a 0.4% uptick from Friday's closing of 4,582.23.For 2024, the outlook seems brighter with Citi seeing the index jump to 5,000 points, up from a previous forecast of 4,400, and about 9% from current levels.Citi pushed out its probability of a U.S. recession to the first half of 2024 from the last quarter of this year. 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