RESEARCH ALERT-JP Morgan cuts 2008 year-end target on S&P 500

March 10 (Reuters) - J.P. Morgan Securities cut the 2008 year-end target on Standard & Poor's 500 .SPX to 1,450 from 1,590 and forecast earnings of $90 a share for the S&P 500 on lower GDP.

JP Morgan said the weak private payroll number shows the economy is probably succumbing to the credit crunch, higher energy prices and housing bust. (Reporting by Amulya Nagaraj in Bangalore; Editing by Vinu Pilakkott)