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UBS lifts earnings and outlook for S&P 500
UBS has raised its earnings forecasts for the S&P 500 index and its target for the index until 2027, based on strong earnings results from semiconductor, technology, and energy companies. This has led to an increase in earnings estimates per share to $350 in 2026 and $400 in 2027, representing growth rates of 25% and 14% respectively. The bank also upgraded its target for the index to 8,100 points by the end of 2026 and 8,400 points in mid-2027, considering that the stock market is supported by resilient economic growth, cautious Federal Reserve policy, and increasing adoption of artificial intelligence technologies. Expectations are that inflation will decline and economic conditions will improve. This support is anticipated to continue driving the market higher, though risks such as rising oil prices and a return of inflation are acknowledged. A downside scenario suggests the index could fall to 5,500 points by June 2027, compared to 9,500 points in the optimistic scenario.
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