JPMorgan Strategists Cut S&P 500 Target on Iran War Uncertainty

JPMorgan Chase & Co. strategists cut their price target on the S&P 500 Index, saying the upside potential for risk assets is “more constrained” by a war in the Middle East. Strategists led by Fabio Bassi slashed their year-end estimate to 7,200 points from 7,500, citing a supply shock stemming from the interruption of oil flows through the Strait of Hormuz that threatens to crimp corporate profits and economic growth. Most Read from Bloomberg “Geopolitical concerns and higher energy prices for longer w ...