US Stock Market: Wells Fargo raises S&P 500 target on stronger earnings outlook, easing macro risks

Wells Fargo has raised its year-end 2026 target for the S&P 500 to 7,950 from 7,300, implying about 5% upside from current levels. The brokerage cited stronger corporate earnings, easing macroeconomic uncertainty following the interim US-Iran agreement, and improved investor sentiment after a recent market pullback.