Citigroup lifts S&P 500 year-end target to 6,600
Photo: Reuters
Citigroup has increased its year-end target for the S&P 500 index to 6,600 from its previous forecast of 6,300.
The investment bank cited stronger-than-expected corporate earnings as the main driver behind the upward revision. It highlighted the positive impact of President Donald Trump’s tax and spending bill, which is expected to support economic growth and improve corporate profitability, News.Az reports, citing Reuters.
The bank said in a Friday note that fiscal stimulus is expected to bolster growth and profitability across sectors.
Similar news
