Citigroup raises S&P 500 targets for 2009, 2010
NEW YORK, Nov 18 (Reuters) - Citigroup raised its 2009 and 2010 year-end estimates for the S&P 500 index .SPX on Wednesday, citing "the seeming willingness by investors to chase equities." For 2009, the estimate was raised to 1,100 from 1,000. For 2010, the estimate was increased to 1,150 from 1,100.
"While we normally prefer not to respond to the market's whims, we see little reason to expect any major correction in the absence of a substantive liquidity shift in the near term," said Citi's Tobias Levkovich, chief U.S. equity strategist, in a note to clients.
The S&P 500 index dipped 0.04 percent to 1109 in early trading.
