Wells Fargo (WFC) is the latest investment bank to raise its year-end S&P 500 (SPX) price target, joining the likes of Oppenheimer (OPY), Goldman Sachs (GS), and Bank of America (BAC).
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Wells Fargo now expects the benchmark index to trade between 6,300 and 6,500, up from its prior estimate of between 5,900 to 6,100. That reflects an increase of 6.67% at the midpoint of the estimates.
Wells Fargo Hikes SPX Price Target
The bank cites an easing tariff outlook and provisions from President Trump’s tax and spending bill as key factors supporting its upgrade.
“The dilution of tariff implementations and the new business tax provisions should improve earnings growth and investor sentiment,” said Wells Fargo in a research note. It also raised its 2025 S&P 500 EPS estimate to $265 from $260 and its 2026 SPX price target to 6,900-7,100 from 6,400-6,600.
The S&P 500 has returned 8.32% year-to-date.
