UBS raises price target for S&P 500 amid growing economy and strong earnings

Traders on the New York Stock Exchange.

Source: NYSE

Even if the stock market hits a succession of new highs, there is still a lot of room to run, according to a new forecast from UBS.

At the heart of the company’s optimism is the belief that soaring profits, coupled with low inflation and a predominantly business-friendly policy, will drive the market higher.

“While investing at historic highs can be daunting for some, we believe there are more benefits to come,” UBS analysts said in a note to clients.

“Following two rounds of stimulus measures rolled out during the quarter and the ongoing vaccination effort, it is increasingly evident that economic activity in the United States is picking up. business climate readings and retail sales all point to a strong recovery, ”they said. .

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