Wells Fargo Boosts S&P 500 Target Amid Tariff Delays and Robust Earnings

Wells Fargo Investment Institute on Wednesday became the latest Wall Street research firm to increase its year-end projection for the S&P 500 index in light of delayed tariff actions and solid corporate earnings figures.

Following President Trump’s postponement of some tariffs and recent trade agreements with partners like the EU and Japan, the bank’s subsidiary now anticipates the benchmark index will close 2025 between 6,300 and 6,500 points, up from its previous forecast of 5,900 to 6,100 points.

Wells Fargo cited the easing of tariff implementations coupled with fresh business tax measures as factors that should bolster earnings growth and investor confidence. The firm also upgraded its earnings-per-share estimate for the index and its GDP growth forecast for the U.S.