NEW YORK, Jan 5 — Citigroup analysts today raised their S&P 500 price target for the end of 2022, estimating it to breach the 5,000 level for the first time, as the brokerage expects strong corporate earnings to continue this year.
Companies, consumers and the broader economy largely thrived in 2021, helped by several factors such as a transfer of power in the US government, the “meme stock” phenomenon, generous fiscal and monetary stimulus, booming demand and price spikes.