Citigroup raises its year-end target for the S&P 500, as tax cuts are expected to offset the negative impact of tariffs.
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最新报道：According to Bijie.com, on August 11th, Citigroup strategists raised their target for the S&P 500, stating that tax cuts should offset the negative impact of tariffs on US companies. The team, led by Scott Chronert, raised their year-end target for the index from 6,300 to 6,600, implying a roughly 3% gain from Friday's close. This quarter's better-than-expected earnings reports, with little evidence of negative impact from tariffs, have propelled the stock market to record highs this month. According to institutional data, over 81% of S&P 500 companies exceeded earnings expectations, the highest level in seven quarters. The Citigroup team stated that companies not only "performed strongly," but also largely maintained their second-half earnings forecasts. Consequently, consensus earnings per share expectations are being revised upwards. They raised their 2025 earnings per share forecast for S&P 500 companies to $272 from $261 previously, and to $308 for 2026 from $295. They said the higher earnings forecasts would not have a significant impact on valuation assumptions. They expect the index to rise to 6,900 by mid-2026, an increase of about 8% from current levels.
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