TSX to hit 15,000 by year-end: CIBC World Markets

CIBC World Markets is forecasting that takeover fever will help to drive the benchmark index of the TSX to 15,000 by year's end.

In Summary, CIBC World Markets is trimming its overweight position in financial stocks by two percentage points because of the high Canadian dollar and the crumbling U.S. housing market.

1) +1% in base metals
2) +1% in utilities
3) Remains overweight in energy stocks by 3-5%

I do think 15,000 might be too aggressive, here is why:
1) Canadian Market had a great run in the past few years already.
2) Canadian Interest Rate will likely to raise at the second half of the year.
3) Although high oil price remind high which help TSX market because of the overweight portion in oil and gas. The high oil price will eventually hurt the economy in the long run. Thus, coporate earning will fall. (e.g. stock price will fall)

I will continue to put money into TSX but I will also beware of summer sell off before it will go higher.

Article from cbc.ca