The note maintains a buy rating on US equities and targets 7,787 for the S&P 500 by year-end. It downplays Strait of Hormuz tensions as largely noise, but flags the main tail risk as a potential closure of Bab al-Mandab, which could disrupt trade routes.
The note maintains a buy rating on US equities and targets 7,787 for the S&P 500 by year-end. It downplays Strait of Hormuz tensions as largely noise, but flags the main tail risk as a potential closure of Bab al-Mandab, which could disrupt trade routes.
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Request TrialOverall Sentiment
mildly positive
Sentiment Score
0.10
