全球股票前路：牛市延续-Global Equity Road Ahead The Bull Market Continues

12 Jan 2026 00:00:00 ET │ 30 pages Global Equity Road Ahead The Bull Market Continues CITI'S TAKE We see global equities continuing to climb in 2026, targeting c10% upside for the MSCI AC World to year-end. Bottom-up consensus sees global EPS growth accelerating to +14% this year (vs. +11% in 25E), with all major regions/sectors likely to contribute positively. Valuations remain stretched, with global equities now trading at a 90th percentile PE multiple vs. history. High valuations leave little room for er ...