Credit Suisse: S&P Poised For Huge 2021 Rallies
Wochit
2020-11-18
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On Wednesday Credit Suisse Strategists revealed the key to investing in 2021 is preparing for a virus-free economy in 2022.
In a note to clients, the team initiated a 2021 S&P 500 price target of 4,050.
Business Insider reports that the target implies a 12% rally from Tuesday's closing level.
Various coronavirus vaccines are vying for regulatory authorization.
That led Credit Suisse to "de-emphasize the near-term" and focus on how the US economy would launch out of its virus slump.
The team said "the virus will be a fading memory" in 2022 and the rotation to cyclical stocks will be "largely behind us."
In a note to clients, the team initiated a 2021 S&P 500 price target of 4,050.
Business Insider reports that the target implies a 12% rally from Tuesday's closing level.
Various coronavirus vaccines are vying for regulatory authorization.
That led Credit Suisse to "de-emphasize the near-term" and focus on how the US economy would launch out of its virus slump.
The team said "the virus will be a fading memory" in 2022 and the rotation to cyclical stocks will be "largely behind us."
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