Citigroup will raise its year-end target for the S&P 500 Index to 5,600 points, optimistic about the strength of technology giants

Citi strategists raised their year-end target for the S&P 500 to 5,600 from the previous 5,100, becoming the third Wall Street firm since Friday to raise their forecasts for the benchmark index, following Goldman Sachs and Evercore ISI.

Citi strategists raised their year-end target for the S&P 500 to 5,600 points from the previous 5,100 points. They became the third Wall Street firm to raise their forecasts for the benchmark index since Friday, following Goldman Sachs and Evercore ISI.
Strategists led by Scott Chronert wrote in a note to clients on Monday that continued earnings revisions and expansion of profit growth into non-tech stocks prompted the target increase.
The latest forecast implies a rise of about 2% from Monday\’s levels.
Raised its full-year earnings per share forecast to $250 from $245.
The mid-year and full-year targets for the S&P 500 Index in 2025 are set at 5.700 points and 5.800 points respectively. The earnings per share of the S&P 500 Index in 2025 is estimated to be US$270.
The targets are essentially an assessment of the impact of three major players: Nvidia, the rest of the Big Seven, and other constituents, Chronert wrote.

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