Broker: UBS
Date of Report: 8 April 2026

Excerpt from UBS report.

Report Summary

• Action: UBS maintains a positive outlook on equities, expecting the S&P 500 to end the year higher, with a revised year-end target of 7,500 (+10% from current levels).
• Key Ideas:
  • Investors are advised to stay invested and avoid abrupt portfolio shifts amid geopolitical events.
  • Preferred equity regions: US, Switzerland, and emerging markets.
  • Sector preferences: health care, industrials, and US utilities. Additional opportunities highlighted in artificial intelligence, power/resources, and longevity-related stocks.
  • Gold is expected to rise, with a year-end target of USD 5,900/oz, and is recommended as a portfolio hedge.
  • Quality bonds (short- and medium-duration) are favored for diversification, particularly as energy price declines may reduce inflation risk and support potential US rate cuts later in the year.
  • Broad commodity exposure is recommended as a hedge against energy market re-escalation and to benefit from structural trends in industrial metals and precious metals.
  • Alternatives (hedge funds, private markets) remain valuable for diversification and differentiated returns, with emphasis on selectivity and alignment with liquidity/risk needs.
• Implications: The ceasefire in the Middle East reduces immediate market risks, but unresolved geopolitical and energy flow issues warrant caution. Oil prices are the key barometer for further risk assessment and positioning. Investors should use periods of lower volatility to position for upside with capital preservation strategies.

above is an excerpt from a report by UBS. Clients of UBS can be the first to access the full report from the UBS website : https://www.ubs.com