Citi Strategists Raise S&P 500 Target on Resilient Earnings (1)

Strategists at Citigroup Inc. raised their target for the S&P 500 Index, saying tax cuts should offset the negative impact from tariffs on US companies.

The team led by Scott Chronert increased its year-end target for the equity index to 6,600 points from 6,300, suggesting gains of about 3% from Friday’s close.

A better-than-expected earnings season, with little evidence of the harmful impact of tariffs on results, has spurred stocks to fresh records this month. Over 81% of S&P 500 companies have beaten estimates, according to Bloomberg Intelligence, the highest in seven quarters.

Companies have produced “an impressive beat,” ...