When 91% of fund managers shout that the US stocks are too expensive, Citigroup sends a bullish research report: the bull market continues to play out, with the S&P challenging 6900 points.

According to the Securities Times app, the stock strategists at Wall Street financial giant Citi Group have raised their target for the S&P 500 index, emphasizing that the important tax cuts in the recently passed "Big and Beautiful" Act by Congress will be able to offset the negative impact of tariff policies on the growth of US corporate earnings. The Citi strategy team, led by strategist Scott Chronos, has raised the year-end target for the benchmark stock index from 6,300 points to 6,600 points, meaning a potential increase of about 3% near last Friday's historical high close, expected to rise to 6,900 points by mid-2026. A report from another Wall Street giant, Bank of America, shows that more than 90% of institutional investors surveyed believe that US stocks are overvalued, but Citi's bullish research report undoubtedly temporarily gives investors confidence.