UBS raised its forecast price target for the S&P 500 to:
5500 at the end of 2024
5600 by June 2025
"Our new June 2025 target represents modest upside from current levels, but our main message is that the backdrop is constructive and investors should have a full allocation to US equities,"
our view on the markets has not changed materially
UBS adds that the market backdrop remains favorable with the same drivers in place:
1) solid and broadening profit growth,
2) disinflation,
3) a Fed likely pivoting to rate cuts,
4) surging investment in AI infrastructure and applications.
May 28 (Reuters) - UBS Global Research raised its year-end target for the benchmark S&P 500 index to 5,600 points on Tuesday, marking the highest forecast among major brokerages.
June 17 (Reuters) - Goldman Sachs has raised its 2024 year-end target for the S&P 500 Index (.SPX) , opens new tab to 5,600 from 5,200, citing strong earnings growth by five mega-cap U.S. tech stocks and a higher fair value price-to-earnings ratio multiple.
UBS Group AG has a consensus rating of Moderate Buy which is based on 7 buy ratings, 7 hold ratings and 1 sell ratings. What is UBS Group AG's price target? The average price target for UBS Group AG is $31.93. This is based on 15 Wall Streets Analysts 12-month price targets, issued in the past 3 months.
That said, the stock price has improved 4.5% since May 6 vs a 3.4% gain in the broader index. This came after the bank posted better-than-expected results in the first quarter of 2024, beating both the earnings and revenue estimates.
Introduction: My name is Greg Kuvalis, I am a witty, spotless, beautiful, charming, delightful, thankful, beautiful person who loves writing and wants to share my knowledge and understanding with you.
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