Market Movers: 3 Stocks With Bullish Analyst Upgrades Last Week

Group 1: Market Outlook - UBS raised its year-end price target for the S&P 500 to 5,900, citing a conducive environment for U.S. equities [1] - The mid-2025 forecast for the S&P 500 is set at 6,200, indicating confidence in future market performance [1] - Key factors for the upgraded targets include robust earnings growth, disinflation trends, anticipated interest rate reductions by the Federal Reserve, and increased investments in artificial intelligence [1][2] Group 2: Earnings Projections - UBS projects an 11% rise in earnings for the S&P 500 in 2024, equating to $250 per share [1] - The earnings growth estimate for 2025 has been increased to 8%, or $270 per share [1] Group 3: Federal Reserve and Interest Rates - The outlook for U.S. stocks is supported by the trend of disinflation and expectations of the Federal Reserve shifting to a rate-cutting stance [2] - UBS anticipates two rate cuts by the Federal Reserve in 2024, with the first expected in September [2] Group 4: Company-Specific Upgrades - Loop Capital upgraded Apple (AAPL) from Hold to Buy, setting a new price target of $300, based on its potential in AI technologies [4] - Block Inc. (SQ) received an upgrade from Market Perform to Outperform by William Blair, highlighting its innovations and leadership under CEO Jack Dorsey [6] - Bank of America Securities raised Shopify's rating from Neutral to Buy, adjusting the price target to $82.00, citing improved margins and solid revenue growth [8]