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Wells Fargo raises its year-end S&P 500 target

August 23, 2017

Via: CNBC

Wells Fargo raised its year-end S&P 500 price target citing strong overseas growth and strong second-quarter earnings. The new forecast still calls for lower prices from here.

“Earlier this year, we had concerns that investors might fret over potential for a 2018 pickup in inflation and interest rates,” wrote Paul Christopher, Wells Fargo’s head global market strategist. “But our new (and more moderate) inflation expectations imply less S&P 500 index downside than we previously had anticipated.”

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