UBS raises S&P 500 worth goal amid rising economic system, robust income

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Merchants on the New York Inventory Trade.

Supply: NYSE

Even with the inventory market hitting a succession of latest highs, there’s nonetheless loads of room to run, in keeping with a brand new forecast from UBS.

On the core of the agency’s optimism is a perception that surging income coupled with low inflation and principally business-friendly coverage will information the market greater.

“Whereas investing at all-time highs could also be daunting for some, we consider there’s extra upside forward,” UBS analysts mentioned in a observe to purchasers.

“Following two rounds of stimulus deployed within the quarter and the continued vaccination effort, there’s rising proof that U.S. financial exercise is choosing up. The newest jobs information, enterprise sentiment readings, and retail gross sales all level to a powerful restoration,” they mentioned.