A Wall Street sign is seen near the New York Stock Exchange (NYSE) in the Financial District of New York on November 24, 2020.
Brendan McDermid | Reuters
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We are only seven days into the New Year and Credit Suisse is already increasing its forecast based on supportive democratic policies and building demand once the Covid situation has normalized.
On Thursday, the company, led by US equity strategist Jonathan Golub, raised its S&P 500 target for 2021 from 4,050 to 4,200, up 12% from the benchmark’s closing price on Wednesday. The company armored pro-cyclical sectors, arguing that they will drive the market higher.