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Wells Fargo ups S&P 500 target
Wells Fargo has raised its target for the S&P 500 index by the end of 2026 to 7,950 points, supported by strong corporate earnings and a decline in geopolitical risks following the ceasefire agreement between the United States and Iran. The bank also expects corporate profits to rise to $340 per share in 2026 and $390 in 2027. It noted that the easing of tensions has helped stabilize the market and opened the door for further gains, although inflation continues to pose a major risk. Since the beginning of the year, the S&P 500 has increased by 10.3%, driven by gains in AI-related stocks and the cloud computing sector.
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