Citigroup’s Levkovich Boosts 2017 S&P 500 Target to 2,425

The transcript discusses the S&P 500 earnings forecast, highlighting a 9% increase driven by the energy sector and tax benefits. It examines the impact of Trump tax cuts on earnings and market valuation, noting the temporary nature of tax-related earnings. The speaker critiques valuation metrics, emphasizing the role of investor perception and historical bond-stock divergences. A performance review of 2016 is provided, with insights into future sector performance, particularly in financials and energy.

What factors are mentioned that could potentially affect the market's performance in the next 12 months?

What were the two areas where the speaker felt they fell short in their predictions for 2016?