Biggest S&P 500 Skeptic Trahan Boosts Forecast After Rally
- UBS’s strategist increases year-end target to 3,250 from 3,000
- Revision comes after stocks blew past last year’s estimate
This article is for subscribers only.
Wall Street’s most pessimistic equity strategist scrapped a call that U.S. stocks would fall in 2020 after a market surge late last year that almost nobody saw coming.
Francois Trahan, head of U.S. equity strategy at UBS Group AG, raised his year-end target for the S&P 500 Index to 3,250 from a previous target of 3,000 set in November. His old forecast was tied with that of Morgan Stanley’s Mike Wilson as the lowest among those tracked by Bloomberg.