This is only modestly higher than 1,441, which is where the index closed on Tuesday.
Reuters reports that this is the first target established by chief investment officer Chris Leavy who will be making such calls for veteran Bob Doll, who is retiring.
Leavy also see the S&P rallying to 1,525 by mid-2013, which compares to the firm’s previous target of 1,400.
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