{"id":41849,"date":"2023-07-29T00:30:19","date_gmt":"2023-07-29T04:30:19","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/citigroup-raises-sp-500-target-for-2023-on-increased-chances-of-soft-landing\/"},"modified":"2023-07-29T00:30:21","modified_gmt":"2023-07-29T04:30:21","slug":"citigroup-raises-sp-500-target-for-2023-on-increased-chances-of-soft-landing","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=41849","title":{"rendered":"Citigroup raises S&P 500 target for 2023 on increased chances of \u2018soft landing\u2019"},"content":{"rendered":"
\n

Citigroup analysts have raised their S&P 500 index target for the end of this year by 600 points to 4,600, a revision they said reflects the increased chances of a \u201csoft landing\u201d for the U.S. economy.\u00a0<\/p>\n

\u201cClearly, we are chasing the tape,\u201d the analysts said in a Citi Research note Friday. \u201cHowever, growing conviction in out-year earnings growth acceleration is a key point of differentiation.\u201d<\/p>\n

\n

The S&P 500
\n SPX,
\n +0.99%<\/bg-quote>
\n has seen a strong rally so far this year, finishing Friday at 4,582.23. That\u2019s its highest closing value since April 4, 2022, bringing the index\u2019s year-to-date gains to 19.3%, according to Dow Jones Market Data. <\/p>\n

Citi also raised its mid-2024 target for the S&P 500 to 5,000, from 4,400.<\/p>\n

\u201cNo doubt, these new targets will be perceived as chasing the year-to-date move in the S&P 500,\u201d the analysts said. \u201cThey better reflect an evolving macro and fundamental backdrop.\u201d<\/p>\n

U.S. stocks have risen this year against the backdrop of a resilient economy and easing inflation, fueling investor hopes that the Federal Reserve may succeed in bringing down the elevated cost of living without causing a recession.\u00a0<\/p>\n

\u201cThe ability of the Fed to perfectly thread the needle is still questionable,\u201d the Citi analysts said. The central bank has this year slowed the pace of interest-rate hikes, which are aimed at lowering inflation.<\/p>\n

\u201cThe lagging impacts of Fed rate hikes to this point should be expected to be felt further into \u201924,\u201d the Citi analysts said. <\/p>\n

But they also pointed to \u201cstronger earnings growth\u201d heading into next year, saying \u201cwe look to buy pullbacks to position for an earnings growth acceleration call in \u201924.\u201d<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Citigroup analysts have raised their S&P 500 index target for the end of this year by 600 points to 4,600, a revision they said reflects the increased chances of a \u201csoft landing\u201d for the U.S. economy.\u00a0 \u201cClearly, we are chasing the tape,\u201d the analysts said in a Citi Research note Friday. \u201cHowever, growing conviction in […]<\/p>\n","protected":false},"author":1,"featured_media":41850,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-41849","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nCitigroup raises S&P 500 target for 2023 on increased chances of \u2018soft landing\u2019 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Citigroup analysts have raised their S&P 500 index target for the end of this year by 600 points to 4,600, a revision they said reflects the increased\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=41849\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Citigroup raises S&P 500 target for 2023 on increased chances of \u2018soft landing\u2019 | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Citigroup analysts have raised their S&P 500 index target for the end of this year by 600 points to 4,600, a revision they said reflects the increased\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=41849\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-29T04:30:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-29T04:30:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/07\/1690605019_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1279\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=41849#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=41849\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Citigroup raises S&P 500 target for 2023 on increased chances of \u2018soft landing\u2019\",\"datePublished\":\"2023-07-29T04:30:19+00:00\",\"dateModified\":\"2023-07-29T04:30:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=41849\"},\"wordCount\":285,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=41849#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=41849\",\"url\":\"https:\/\/ifintechworld.com\/?p=41849\",\"name\":\"Citigroup raises S&P 500 target for 2023 on increased chances of \u2018soft landing\u2019 | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-07-29T04:30:19+00:00\",\"dateModified\":\"2023-07-29T04:30:21+00:00\",\"description\":\"Citigroup analysts have raised their S&P 500 index target for the end of this year by 600 points to 4,600, a revision they said reflects the increased\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=41849#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=41849\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=41849#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Citigroup raises S&P 500 target for 2023 on increased chances of \u2018soft landing\u2019\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Citigroup raises S&P 500 target for 2023 on increased chances of \u2018soft landing\u2019 | iFintechWorld","description":"Citigroup analysts have raised their S&P 500 index target for the end of this year by 600 points to 4,600, a revision they said reflects the increased","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=41849","og_locale":"en_US","og_type":"article","og_title":"Citigroup raises S&P 500 target for 2023 on increased chances of \u2018soft landing\u2019 | iFintechWorld","og_description":"Citigroup analysts have raised their S&P 500 index target for the end of this year by 600 points to 4,600, a revision they said reflects the increased","og_url":"https:\/\/ifintechworld.com\/?p=41849","og_site_name":"iFintechWorld","article_published_time":"2023-07-29T04:30:19+00:00","article_modified_time":"2023-07-29T04:30:21+00:00","og_image":[{"width":1279,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/07\/1690605019_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=41849#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=41849"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Citigroup raises S&P 500 target for 2023 on increased chances of \u2018soft landing\u2019","datePublished":"2023-07-29T04:30:19+00:00","dateModified":"2023-07-29T04:30:21+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=41849"},"wordCount":285,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=41849#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=41849","url":"https:\/\/ifintechworld.com\/?p=41849","name":"Citigroup raises S&P 500 target for 2023 on increased chances of \u2018soft landing\u2019 | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-07-29T04:30:19+00:00","dateModified":"2023-07-29T04:30:21+00:00","description":"Citigroup analysts have raised their S&P 500 index target for the end of this year by 600 points to 4,600, a revision they said reflects the increased","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=41849#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=41849"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=41849#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Citigroup raises S&P 500 target for 2023 on increased chances of \u2018soft landing\u2019"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/41849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41849"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/41849\/revisions"}],"predecessor-version":[{"id":41851,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/41849\/revisions\/41851"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/41850"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}