UBS Raises S&P 500 Year-End Targets to 6,100 for 2025 from 5,500 and 6,800 for 2026, Expects 2025 Dip

UBS Global Research has raised its year-end target for the S&P 500 index for 2025 to 6,100 from a previous target of 5,500. The firm also set a 2026 year-end target of 6,800. Despite the upward revision, UBS strategist Bhanu Baweja noted that the S&P 500 is expected to end 2025 below current levels due to slowing economic growth, even as the U.S. economy and corporate performance have outperformed expectations and tariff risks have eased. The revised targets reflect UBS's outlook for a moderate decline in the index before a potential recovery in 2026.