The S&P rises sharply, Wall Street is too busy to "tear up reports"
Since the end of September, the US stock market has seen a strong rebound led by technology stocks. UBS has raised its year-end target for the S&P from 5600 points to 5850 points; Goldman Sachs has raised its S&P target for the third time this year, from 5600 points to 6000 points; BMO has set the highest target on Wall Street, raising its target from 5600 points to 6100 points
In recent days, the US stock market has rebounded sharply, with major Wall Street banks raising their year-end target prices for the S&P.
According to media reports, in the past month, Goldman Sachs, UBS, and BMO have all increased their year-end target prices for the S&P 500 index.
On Tuesday, UBS strategists Jonathan Golub and Patrick Palfrey raised their year-end target for the S&P from 5600 points to 5850 points, and also raised their next year's target forecast from 6000 points to 6400 points, expecting the index to rise another 9% in the next 15 months.
Earlier this month, Goldman Sachs' Chief Equity Strategist David Kostin raised the year-end target for the S&P from 5600 points to 6000 points, marking the third increase this year.
Back in September, BMO's Brian Belski raised the year-end target for the S&P from 5600 points to 6100 points, citing the Federal Reserve's rate cut cycle as a strong foundation for the market in the next one to three months, expressing strong optimism about the future of the US stock market:
"We continue to be surprised by the strong momentum in the market and have once again decided that in addition to the incremental upward adjustments (target price), we need to make more adjustments."
Since the end of September, the US stock market has seen a strong rebound led by tech stocks. As of Monday's close, the S&P hit its 46th new high of the year and its best performance of the 21st century.
UBS's Golub stated that considering mild inflation, Fed rate cuts, improved business activity, and stronger overall corporate profit growth, the S&P's future risks are skewed to the upside