Reported 6 months ago
UBS Global Research has raised its year-end target for the S&P 500 index to 5,600 points, the highest forecast among major brokerages, reflecting a 5.6% upside from the index's last close of 5,304.72. The increase is driven by stronger earnings forecasts, a supportive economic backdrop, and fading recession risks, with UBS strategists now forecasting an EPS of $245 for 2024. This move aligns UBS with other major brokerages like Deutsche Bank and Wells Fargo, which have also predicted the index will end at 5,500 or higher this year.
Source: YAHOO