BofA Lifts S&P 500 12-Month Estimate from 1,200 to 1,275
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BofA Merrill Lynch boosted its 12-month S&P 500 target estimate from 1,200 to 1,275 this morning, suggesting that the index will rise nearly 15% over the next year. The firm also raised its FY09, FY10 and FY11 EPS estimates for the S&P 500.
The index is trading around 1,111 today, up about 1.75% from Friday's close.
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