Citigroup Expecting Nearly Double-Digit Fall in S&P 500
A team of analysts at Citigroup (NYSE: C) has raised its target level for the S&P 500 for the end of this year. Despite the lift, however, the big bank's new estimate is nearly 10% below the current level of the benchmark stock index.
Citigroup upped its estimate to 2,900 from the previous 2,700. The analysts believe that "powerful fiscal and monetary stimuli" that will likely soon rain onto the market justify a bump in its target.
They still feel, however, that the stock market in general and the S&P 500 specifically are in for a tough time in the second half of this year.
Source Fool.com
