Citi's Levkovich Lowers S&P 500 Target for 2016 on Oil Rout

  • Strategist lowers 2016 forecast 2.3 percent to 2,150
  • Says profits to fall by $2 per share as crude slide continues

The persistent rout in oil this year has spurred Citigroup Inc.’s Tobias Levkovich to cut his forecast for U.S. profits and gains by the Standard & Poor’s 500 Index.

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