S&P 500 may rise to 5,100 by end of 2024 as U.S. stock-market rally broadens, Citi says

The S&P 500 index may climb to 5,100 by the end of next year in a broadening of the U.S. stock market’s rally, according to equity analysts at Citigroup. 

Citi’s price target for the end of 2024 is premised on its estimate that the S&P 500’s earnings per share will increase to $245, equity analysts led by Scott Chronert said in a research note Friday. They lowered their midyear 2024 target to 4,800 from 5,000.

The…