Wells Fargo Investment Institute raised its S&P 500 year-end target to 6,300-6,500, citing tariff delays and strong corporate earnings. Trump’s tariff delays and tax cuts are expected to boost earnings growth and investor sentiment. Other firms like Goldman Sachs and Bank of America also raised their S&P 500 targets. Wells Fargo increased its U.S. GDP growth forecast to 1.3% for the year. The U.S. economy grew at a 3% annualized pace in Q2, driven by lower imports and stable consumer spending. Wells Fargo raised its earnings-per-share forecast for the S&P 500 to $265 and its 2026 index target to 6,900-7,100. The institute prefers U.S. large- and mid-cap equities over small caps and emerging markets, expecting the U.S. dollar to remain strong.

Read more at Yahoo Finance: Wells Fargo joins Wall Street chorus in lifting S&P 500’s annual target