Citigroup analysts have revised upwards their S&P 500 price target for the end of 2022, estimating that it will exceed the level of 5,000 points for the first time, as Citi expects strong corporate profits to continue this year, as reported by Reuters.
The business results of the S&P 500 in 2021 exceeded even the most optimistic estimates of analysts, showing an annual increase in the first three quarters by 52.8%, 96.3% and 42.6% respectively, according to data collected Refinitiv.
For the fourth quarter, Refinitiv places the annual profit growth at 22.3%.
In this context, Citigroup analysts revised the target price for the S&P 500 to 5,100 from 4,900 points in October, although they warn that the tightening of monetary policy by the Federal Reserve could create unfavorable conditions for valuations.
The S&P 500 rose almost 27% in 2021. On Tuesday, the index closed with small losses at 4,793.54 points, after its last record on Monday.
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