Citigroup raises Dow, S&P 500 targets for 2007
Chief U.S. equity strategist Tobias Levkovich now sees the Dow industrials reaching 14,000 by the end of 2007, up from his previous forecasts of 12,750. For the S&P 500, he lifted his target to 1,600 from 1,500.
Based on Wednesday’s closing prices of 12,317.50 for the Dow and 1,413.21 for the S&P 500, the new targets imply a 14% gain for the Dow and a 13% rise for the S&P 500.