Citi Survey Shows Health Care Most Preferred Sector; Financials, Energy and Materials Most Likely To Underperform

August 25, 2008 11:42 AM EDT

Citigroup's chief U.S. equity stragegist Tobias Levkovich commented on results of the firm's recent institutional investors survey. He said:

- Survey shows continued confusion, with more than 70% of investors expecting the S&P 500 to end the year between 1100 and 1400. He sees a clear lack of consensus.

- There is general agreement that earnings will be under meaningful pressure.

- Recent results show Health Care being the preferred sector with Financials, Energy and Materials showing up in the areas most likely to underperform.

- While almost 64% of respondents argued that growth stocks should outperform value, that is down from more than 80% one year ago.

- Majority of clients expect Senator Obama to beat Senator McCain in November

- More than half of respondents do not believe the credit crisis is over. But, many appear to think that equity markets would trade higher at the first sign of credit market stabilization.

Stocks Mentioned

Related Entities

• Citi
• Standard & Poor's
• Tobias Levkovich

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