Wells Fargo Lowers S&P 500 Year-End Target Amid Iran Conflict Concerns

Wells Fargo has revised its year-end target for the S&P 500, reducing it from 7,800 to 7,300. According to NS3.AI, this adjustment reflects the bank's assessment of risks associated with the ongoing conflict in Iran. Ohsung Kwon, an analyst at Wells Fargo, highlighted inflation as a significant risk factor for the latter half of the year.