Announcing their target values, Citigroup’s regional equity strategist, Markus Rosgen, has set a target of 14700 to 16000 for the Sensex as of December 2007..
This is based on a fair value of 13300 for Sensex and 10-20% premium on account of higher ROE’s(return on equity) and expected upgrade momentum for earnings estimates.
......Citigroup expects earnings growth of its Indian universe at around 15-20% and expects growth rates to trend downwards from current cyclical peak of around 25%
Err.... could we have Citigroup's forecasts for the past three years?
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