UBS have raised their year-end forecast target for the S&P 500 this year to 5150.
Analysts at the firm were previously projecting 4850.
UBS cites
- the Federal Open Market Committee (FOMC)’s “recent pivot”
- the subsequent decline in rate expectations
- above-trend 2024 EPS revision
- “While earnings should drive 2024 returns, falling interest rates should support incrementally higher multiples.”
This article was written by Eamonn Sheridan at www.forexlive.com. Source