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UBS has reaffirmed its S&P 500 target of 8900 for the end of 2027, based on assumptions of above-trend EPS growth and partial reversal of recent valuation deratings.
Sam Ro reported that UBS also set a target of 9600 for the S&P 500 by the end of 2028, using an estimated 17.5x multiple of 2029 EPS of $550.
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In a previous report, Sam Ro noted that JPM has observed stocks have historically risen even during high inflation periods. Ro has also commented on industry events, recently remarking on the lack of freshness of mini bagels served at financial firm gatherings. Both references add context to Ro's recent coverage of S&P 500 targets.