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FACTBOX-Banks cut S&P 500, earnings targets due to coronavirus

(Updates details on Wells Fargo and Citi)

NEW YORK, March 6 (Reuters) - Strategists from top U.S. financial firms cut their earnings per share and other targets for the S&P 500 and globally in recent days as the expected impact of the coronavirus on corporate results escalated. Here are some of the bigger announcements:

** Goldman Sachs on Thursday cut its outlook for S&P 500 corporate earnings in 2020, saying it expects no earnings growth this year. Goldman's equity strategists now expect aggregate S&P 500 earnings per share of $165, down from the previous estimate of $174

** Wells Fargo Investment Institute on Thursday cut its EPS targets for several equity indexes, including a lowering of the S&P 500 to $166 from the prior view of $172. WFII's year-end S&P 500 target remains a 3,260 to 3,440 range, "balancing lower earnings but a higher valuation" and they do not anticipate a U.S. economic recession.

Just last week the firm cut its 2020 S&P 500 EPS target to $172 from $175 and cut its year-end target forecast for the S&P 500 index to 3,260-3,440, down from the previous target of 3,340-3,520.

** Citi's chief U.S. equity strategist, Tobias Levkovich, said in note released Feb. 28 that earnings would fall slightly year-over-year in 2020 under his latest profit forecast for the S&P 500. "We are taking out $10.00 from full-year EPS numbers (reducing our full-year 2020 estimate forecast to $164.25)," he wrote. However, Levkovich left his S&P 500 target price for 2020 unchanged at 3,375. (Reporting by Caroline Valetkevitch Editing by Leslie Adler and David Gregorio)