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Citi bumps up its S&P 500 forecast, but warns investors to stop ignoring these risks


Investors are waking up from a Monday hangover that sent stocks charging after a China stock rally, despite the U.S. struggle to contain coronavirus outbreaks across many states, and as earnings season looms.

Offering up a fresh view of where stocks are headed is our call of the day from strategists at Citigroup, who have just bumped up their S&P 500 target to 2,900 from 2,700 — close to a 10% drop from the current level of 3,179.

Still, “barring a big shock, it is improbable to think of a trading range for the S&P 500 in the 2,500-3,000 area, but more likely in the 2,700-3,200 vicinity as monetary policy will be in place to prevent a 20% or greater…


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