Stocks bull Yardeni cuts SP 500 view to 7,900 on downturn risks

The president and chief investment strategist of Yardeni Research Inc. cut his target to 7,900 from 8,400, which was the highest estimate on the Street as of last month. The new target implies a 4.1 per cent increase from where the equity gauge closed on Tuesday. It also falls in the middle of pack, based on a Bloomberg survey of more than 20 strategists.