Exclusively for CNBC Pro Subscribers: Bank of America cuts S&P 500 target as 'specter of a recession looms'
As the economy braces for slowing growth and an eventual recession threatens to materialize, Bank of America is changing its outlook on the S&P 500. Bank of America's equity and quant strategist, Savita Subramanian, cut the price target on the benchmark index to 4,500 from 4,600 on Friday. In their note to clients, the bank highlighted which sectors they are overweight, with one sector in particular standing out as a recession becomes a possibility. Subscribe to CNBC Pro to see Bank of America's updated market outlook and how to invest going forward. |
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