Wells Fargo’s brokerage division raised its year-end 2026 S&P 500 forecast to 7,950. The new target represents a 5.2% increase from the previous day's close. Analysts cited easing macroeconomic risks and a recent market pullback as primary drivers for the revision.
The firm increased its 2026 earnings per share estimate to $340. This figure is up from the previous forecast of $315. Wells Fargo also raised its 2027 earnings per share target for the index.
The brokerage maintains a positive outlook on risk assets and cyclical sectors. Fading macro headwinds and steady earnings growth support the projected market rally.