Citigroup cuts S&P 500 targets for 2008 to 850...

A

ASusilovic

Citing declining earnings outlooks and "extraordinary risk aversion," Citigroup U.S. equity strategist Tobias Levkovich on Monday cut his targets for the S&P 500. He now sees the S&P 500 ending the year at 850, down from 1,200 previously and only 10 points higher than its current levels. By the end of 2009, the index of large capitalization companies should rebound modestly to 1,000 -- instead of the 1,300 previously targeted. "Stocks seem to be discounting a deep downturn but not yet a depression," he wrote. Plus, equity investors remain on the sidelines given attractive high-grade corporate debt alternatives, awful news in housing and widespread losses from previous investments.

http://www.marketwatch.com/news/sto...C9-1393-4EBB-B50A-E8C8876EB90B}&dist=hplatest

Ha, ha, ha...Great stuff ! A Citi strategist ! "extraordinary risk aversion"....Ha, ha, ha...

:p :) :D
 
Yet another sign that the market is getting "attractive" at these levels . . . He cites "issues" that are already very well "known" to the marketplace.

"awful news in housing and widespread losses from previous investments . . ."

Meanwhile, Goldman is looking for -33% off S&P year over year operating earnings . . . that would get you to $55.00

:)
 
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