Updated from 5:43 p.m. ET to add commentary on April historically being the best month of the year.
NEW YORK ( TheStreet) -- If you thought meager earnings growth in the first quarter was going to derail this rally, think again.
The low bar theory is already making the rounds as Citigroup pointed out Monday that 2% year-over-year growth for the S&P 500 is "not hard to beat," and said it expects corporate earnings to top the current consensus view by 3.5%. The firm is less optimistic about later in the year though, saying the expectation for 16% growth in the fourth quarter is "far more questionable."
In fact, Citigroup expects "no EPS growth acceleration in coming quarters," i.e. the rest of fiscal 2012, and said it believes estimates for the energy sector in the latter part of the year may be too high."
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