HSBC cuts S&P 500 year-end target to 5600
ReutersApr 29, 2025 11:35 AM
April 29 (Reuters) - HSBC on Tuesday cut its year-end 2025 S&P 500 .SPX target by 16% to 5600 from the prior 6700, citing slower growth in the U.S. and President Donald Trump's tariff pressure on earnings.
"Uncertainty should cap valuations given the lack of visibility to long-term earnings growth," said HSBC strategists in a note.
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