Thursday, March 15, 2007

Where's the Sensex headed?

Citigroup unveils its forecast (ET, March 15):

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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