S&P 500 will hit 6200 by June 2025: UBS
price target of 6,200 by June 2025 on Monday and reaffirmed a positive outlook on AI beneficiaries and quality stocks.
UBS projects that headline S&P 500 earnings per share growth for the September quarter will range between 5% and 7%, a slowdown from the 11% growth in the second quarter, largely due to lower oil and gasoline prices. However, their 2024 full-year earnings growth forecast of 11% remains unchanged. The bank expects the Q3 results to confirm healthy corporate profit growth.
"With the Federal Reserve having started its rate-cutting cycle, the U.S. economy should get a further boost from lower interest rates, with improving credit card debt and business loans,” strategists said in a note. "We expect executives to sound a positive note on the prospects for profit growth, consistent with the recent easing in bank lending standards, which tends to be a good leading indicator for profit growth,” they wrote.
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