Wells Fargo Trims SP 500 Target
Wells Fargo lowered its year-end target for the S&P 500 index to 7,700 citing limited catalysts and rising political and sector-specific risks. The firm also downgraded its stance on the U.S. technology sector to equal weight while moving healthcare to overweight.
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WELLS FARGO & CO lowered its year-end target for the S&P 500 index to 7,700 from 7,950 on Monday morning. The revision comes as limited market catalysts and rising political risks cloud the broader outlook. The benchmark index remains up 11.3% this year despite recent bouts of volatility.
