Wells Fargo resets its S&P 500 target for rest of 2026

Wells Fargo has cut its year-end S&P 500 (SP500) price target to 7,300 from 7,800, pointing to risks it did not see coming when the year began. The revision came from equity analyst Ohsung Kwon, who cited the ongoing U.S.-Iran war and lower-than-expected tax returns as the main drivers. The new ...