Wells Fargo & Co. raised its year-end 2025 forecast for the S&P 500 to a range of 6,300 to 6,500, citing a delay to planned U.S. import tariffs and expectations of a “high-tech production boom.” The new projection lifts the midpoint of the bank’s target to 6,400 from 6,000 previously, reflecting a more than 6% upside from its earlier view. Strategists at the firm said the latest postponement of tariff implementation has bolstered risk appetite across equity markets, while an anticipated step-up in technology manufacturing investment is expected to support earnings growth. The revision comes as U.S. stocks continue to recover ground lost during earlier tariff-related volatility.