UBS upgrades global equities outlook citing AI momentum

UBS Global Wealth Management shifted its global equities stance from “neutral” to “attractive,” driven by confidence in AI investment and productivity gains. It also raised its 2025 S&P 500 target from 6,600 to 6,900. The firm cited structural tailwinds in AI adoption, robust earnings, and favorable policy support. UBS says downside risks include valuation stretch and inflation surprises. The upgrade aims to align investment allocation toward tech and high-growth sectors while guarding against macro volatility.