UBS(US:UBS) Huan Qiu Wang·2025-10-20 05:24Group 1 - UBS has upgraded its rating for global stock markets to "attractive," citing expected productivity boosts from artificial intelligence spending and a supportive policy environment [1][3] - The firm has raised its ratings for global, U.S., China, emerging markets, and Asian stock markets (excluding Japan) to "attractive," emphasizing the strength of structural trends and confidence in sustainable capital expenditure cycles [3][4] - UBS has increased its global earnings growth forecast for 2025 from 6.5% to 8%, anticipating continued high single-digit growth next year [3] Group 2 - The macroeconomic backdrop is favorable for stock markets, with economic growth exceeding expectations and anticipated acceleration next year due to easing tariff pressures and expected Federal Reserve rate cuts [3] - UBS has raised its S&P 500 index target for the end of 2025 from 6,600 to 6,900 points, and the MSCI Emerging Markets index target for June 2026 to 1,470 points based on improved corporate earnings expectations [3][4] - UBS continues to favor the technology sector as its "global preferred industry," raising the rating for Chinese tech stocks to the most attractive level, predicting nearly 40% growth in earnings per share by 2026 [4]