BlackRock: Stocks Won't Go Much Higher This Year

BlackRock, the fund manager with $3.56 trillion in assets under management, just boosted its S&P 500 year-end target to 1,450 from 1,350.

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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