US Markets

S&P 500 to 2,200 next year: Citi's Tobias Levkovich

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Investors crossed euphoria line?

Expect the stock market rally to continue through the New Year, with the index climbing to the 2,200 level in 2015, Wall Street strategist Tobias Levkovich told CNBC on Friday.

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Traders on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters

Strong corporate earnings coupled with decent revenue growth will lift stocks some 7 to 9 percent in 2015, Levkovich, chief equity strategist at Citigroup, said on "Squawk on the Street."

Though stronger U.S. dollar has been a tailwind for revenues, it's been "OK" and climbing at a 5 to 6 percent clip, Levkovich said. It's really earnings that will drive the market anyway, he said.

The markets won't be deterred by the Federal Reserve's plans to raise interest rates either, Levkovich said, because that's what's supposed to happen anyway.

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"We're seeing businesses looking to hire. We're seeing them looking to add CAPEX. We're seeing them doing mergers and acquisitions," he said. "They're doing all the things that would intimate a revival of corporate animal spiritsthat's when you remove accommodation. That's normal."