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UBS lifts 2024 Stoxx 600 target to 450 from 410

Published 09/01/2024, 10:18
Updated 09/01/2024, 10:22
© Reuters. FILE PHOTO: The logo of UBS is seen prior to a press conference of the Swiss bank after the takeover of Credit Suisse, in Zurich, Switzerland, August 31, 2023. REUTERS/Denis Balibouse/File Photo

(Reuters) - UBS raised its 2024 target for benchmark European Stoxx 600 to 450 points on Tuesday, from 410 expected earlier, but is still about 6% down from the index's current level.

"We raise our 2024 target to 450 to better reflect the resilience in the macro regime, lower bond yields and lack of offsetting risk premia catalysts," UBS strategists wrote in a note.

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