UBS increased its S&P 500 year-end price target to 5,900, marking the fourth increase from the bank this year. It added that the S&P 500 could surge 17% to 6,500 by year-end in a bull-case scenario. AdvertisementUBS is once again raising its year-end price target for the S&P 500. UBS initially had a year-end price target of 4,850. Those earnings and price target estimates would represent a historically high price-to-earnings multiple for the S&P 500, but it's warranted, according to Lefkowitz.

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Persons: —, David Lefkowitz, Lefkowitz, Lefkowitz materializes Organizations: UBS, Service