Citigroup Raises S&P 500 Forecast, but Still Predicts Decline

Citigroup's (NYSE: C) view on the prospects for the S&P 500 index has become much rosier. A team of analysts from the big bank, led by its chief U.S. equity strategist, Tobias Levkovich, upped its year-end forecast for the benchmark stock index by nearly 14% in a research note disseminated to the media on Tuesday.

Still, the prognosticators believe the index's level will go down for 2020 rather than up. Although they now predict it will end the year at 3,300 (up from their previous estimate of 2,900), that figure is down from the index's most recent close of almost 3,444.

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Source Fool.com