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

Discussion in 'Trading' started by ASusilovic, Nov 24, 2008.

  1. 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.}&dist=hplatest

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

    :p :) :D
  2. He gets a bailout and then issues a less-than-rosy forecast. Ungrateful douchebag! :cool:
  3. 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

  4. Daal


    give Citi break. they need to downgrade the sp500 after one of the largest components got down to $5
  5. Don't you mean $3.05/share, C's ~15-year low? :cool:
  6. Once they drop C from the SP500 it will probably help SP500 earnings big time :cool: