US Equities

UBS has raised its S&P 500 year-end 2026 target to 7,900, maintaining an 'Attractive' stance driven by AI demand and resilient corporate profits. While geopolitical risks in the Middle East persist, the firm believes the bull market drivers remain intact.

Key Takeaways

• 1.UBS maintains an Attractive view on US equities, citing resilient economic growth and AI momentum.
• 2.Price targets and EPS estimates for the S&P 500 have been raised due to data center demand and consumer spending.
• 3.Disruptions to energy flows in the Middle East (Strait of Hormuz) represent the primary near-term risk to the bull market.

Table of Contents

• Central scenario
• Attractive sectors
• Upside scenario: Tech boom
• Downside scenario: Major disruptions
• Global asset class preferences definitions
• Appendix
• Risk information

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