UBS SEES S&P 500 AT 8,900 BY END-2027 DESPITE MARKET SELLOFF UBS maintains its S&P 500 target of 8,900 for 2027 and 9,600 for 2028, arguing that this year's valuation collapse creates a buying opportunity. The index's forward P/E has fallen 20% in 2026, despite earnings growth of roughly 33%. Historically, years following a P/E contraction exceeding 10% have delivered median returns of 20%. UBS expects 18% EPS growth in 2027 and favors semiconductors, software, hyperscalers, healthcare and financials.(彭博社)