Credit Suisse, Citi cut 2022 year-end target for S&P 500

“We expect a reversal of spreads and volatility, leading to 1-2x multiple points of rerating through year-end. By contrast, 2023 returns should be driven primarily by earnings growth,” Credit Suisse analyst Jonathan Golub said.Citigroup, on the other hand, expects the index to end 2023 at 3,900 points.

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