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S&P 500 Yr-End Target Raised by JPMorgan’s Lee; Lists 21 Stocks 2013-11-15 10:16:38.560 GMT
By Roger Neill Nov. 15 (Bloomberg) -- JPMorgan’s Thomas J Lee raises S&P 500 target to 1,825 vs 1,775; says U.S. in secular bull market, remaining constructive on equities is warranted. * Technology, financials are half of 50-point target increase; still comfortable tilting toward cyclicals given expectations of broadening growth in U.S., Europe, potential for P/E expansion: Lee * Lists stocks: CA, NE, RIG, IVZ, DAL, PCLN, ACT, TROW, MYL, ENDP, VVUS, HTWR, TRLA, LCC, TEN, WWWW, PZN, ALSN, SXCP, ARCC, AWAY * CRITERIA: Industry in the top quartile of QTD performance; raised net income estimates from 9/30 to 11/14; rated overweight or neutral by JPMorgan Analysts * NOTE on Nov. 13: Strategists’ S&P 500 Index Estimates for Year-End 2013 (Table)
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--Editor: Roger Neill
To contact the reporter on this story: Roger Neill in London at +44-20-7673-2867 or rneill3@bloomberg.net