TechFlow, April 24 — According to Jinshi Data, one of Wall Street's biggest bulls is abandoning expectations for a significant rally in U.S. stocks this year. Deutsche Bank strategists led by Bankim Chadha have cut their year-end target for the S&P 500 by 12% to 6,150 points, implying the index would merely recover losses since its February peak. The team also expects S&P 500 earnings to decline by 5% this year, versus a consensus forecast of 8% growth. Deutsche Bank has been among the most bullish institutions on the index. The strategists said: "Given the potentially large impact of tariffs, which are likely to disproportionately affect U.S. companies, we are reducing our S&P 500 earnings per share forecast for 2025 from $282 to $240."
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