Wall Street Strategist Tobias Levkovich
Tobias Levkovich
Chief US Equity Strategist · Coverage 2002–2021 · Deceased October 2021
AnaChart's record of Tobias Levkovich's S&P 500 year-end price targets at Citi covers 36 published targets and revisions across 18 closed forecast years. His final-year hit rate within ±3% of the actual close is 0% — 0 of 18 years. Closest call: 2009, target 1,150 vs. actual 1,115. Largest miss: 2008, target 1,675 vs. actual 903.
Levkovich was Citi's chief US equity strategist for two decades and one of the most widely followed voices on Wall Street. He died in October 2021 from injuries after being struck by a car, and the 4,700 target he set for 2022 on October 1, 2021 was his final published call. His tracked record shows a strategist who revised often, especially in volatile years. In 2019 he moved his target through five revisions and in 2020 through four as the pandemic reshaped the outlook. The closest he came to the year-end close was 2009, a 1,150 target 3.1% above the 1,115 actual. The widest miss was 2008, a 1,675 call set before the financial crisis that finished 85% above the 903 low. Every revision is plotted on the chart below.
S&P 500 Year-End Targets — Full History
Gray line: S&P 500 end-of-day closing price. Blue line: Tobias Levkovich's published S&P 500 price targets, each plotted at issuance date. Both lines end at retirement.
Year-by-Year Forecast Performance
| Year | Final Target | Year-End Actual | % Off | Result |
|---|---|---|---|---|
| 2022 | 4,700 | 3,840 | +22.4% | Final call |
| 2021 | 4,000 | 4,766 | −16.1% | Miss |
| 2020 | 3,300 | 3,756 | −12.1% | Miss |
| 2019 | 3,050 | 3,231 | −5.6% | Miss |
| 2018 | 2,675 | 2,507 | +6.7% | Miss |
| 2017 | 2,425 | 2,674 | −9.3% | Miss |
| 2016 | 2,100 | 2,239 | −6.2% | Miss |
| 2015 | 2,200 | 2,044 | +7.6% | Miss |
| 2014 | 1,975 | 2,059 | −4.1% | Miss |
| 2013 | 1,615 | 1,848 | −12.6% | Miss |
| 2012 | 1,375 | 1,426 | −3.6% | Miss |
| 2011 | 1,300 | 1,258 | +3.4% | Miss |
| 2010 | 1,175 | 1,258 | −6.6% | Miss |
| 2009 | 1,150 | 1,115 | +3.1% | Miss |
| 2008 | 1,675 | 903 | +85.4% | Miss |
| 2007 | 1,600 | 1,468 | +9.0% | Miss |
| 2003 | 1,075 | 1,112 | −3.3% | Miss |
| 2002 | 1,000 | 880 | +13.7% | Miss |
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Frequently Asked Questions
Is Tobias Levkovich still Citi's Chief US Equity Strategist?
No. Levkovich, Citi's chief US equity strategist for roughly two decades, died in October 2021 from injuries sustained after being struck by a car. Scott Chronert stepped into the US equity strategy role and now publishes Citi's S&P 500 year-end target.
What was Tobias Levkovich's last S&P 500 target?
His final AnaChart-tracked target was 4,700 for year-end 2022, set on October 1, 2021, shortly before his death. The index closed 2022 at 3,840, leaving the call 22% high.
How accurate were Tobias Levkovich's S&P 500 forecasts?
Across 18 closed forecast years, none of his final-year targets landed within ±3% of the actual year-end close, a 0% hit rate on the strict band. Several calls finished in the 3% to 7% range, with the closest being 2009 at 3.1% off. The year-by-year table above shows every call.
How often did Tobias Levkovich revise his S&P 500 target?
About once every 28 weeks on average across his coverage. He revised most actively in volatile years, with five moves in 2019 and four in 2020. Every dot on the chart marks one of those calls; hover any dot to see the date and target level.
Who took over from Tobias Levkovich at Citi?
Scott Chronert assumed Citi's US equity strategy role after Levkovich's death in October 2021 and now sets the firm's S&P 500 year-end target.