S&P 500 to rise above 5,000 by year-end 2022 – Citibank

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Analysts at Citigroup lifted their price forecast for the S&P 500 index to 5,100 from 4,900 predicted in October, citing robust corporate earnings.

Key quotes

“A US Federal Reserve policy tightening could pose valuation headwinds.”

“Expect strong corporate earnings to continue this year.”

“Upcoming quarterly results and 2022 outlook of companies could provide the cushion for growth, despite COVID-19 and supply chain woes.”