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UBS Cuts S&P 500 Year-end Target to 7,500 Points on Middle East Conflict
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UBS Global Wealth Management said in a report that amid the ongoing Middle East conflict, oil prices are expected to continue rising, putting pressure on US economic growth and inflation. As a result, it lowered its year-end target for the S&P 500 this year to 7,500 points from 7,700 points. Since the outbreak of the Iran war on February 28, the S&P 500 has fallen by about 3.9% cumulatively. However, UBS reiterated its constructive view on US equities and maintained its forecast for S&P 500 EPS at USD310 for this year. (sw/t) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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