UBS boosts year-end S&P 500 price target to 5,500
The financial services firm has set a new year-end price target for the S&P 500 at 5,500. Moreover, UBS has introduced a June 2025 target of 5,600 for the index.
The revision follows a period of all-time highs for US equities, driven by softer inflation data, lower interest rates, and a robust first-quarter earnings season."As we have been articulating, 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, and 4) surging investment in AI infrastructure and applications.
The firm now anticipates an 11% growth in EPS for 2024, reaching $250, and a 6% increase for 2025, resulting in an EPS of $265. The firm's upside scenario calls for the S&P 500 to end the year at 5,700, while the downside scenario calls for a drop to 4,400.
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