One of Wall Street’s Biggest Bulls Slashes View as Tariffs Bite
Takeaways NEW
One of Wall Street’s biggest bulls is throwing in the towel on expectations for large gains this year, seeing tariffs hitting corporate America the hardest.
Deutsche Bank AG strategists led by Bankim Chadha slashed their year-end S&P 500 target by 12% to 6,150. While that leaves 14% upside from Wednesday’s close, it means the index will only recover losses sustained since its February peak. Up until this change, they had held one of the most bullish views for the benchmark.