Although the S&P 500 Index has had a tough start of the year and edging closer to the 4,600 mark, economists at UBS target the 5,000 and 5,100 levels by June and December, respectively.

Cyclicals to outperform

“We forecast 2022 revenue growth of 8%, translating into earnings per share growth of 12%.”

“Our S&P 500 price targets are 5,000 and 5,100 for June and December, respectively.”

“We retain a bias for cyclical parts of the market, including energy and financials, balanced by exposure to the attractively valued but more defensive healthcare sector.”