There's a new biggest bull on Wall Street now that Trump has signed tax cuts into law

pulse

January 4, 2018 5:51 PM

UBS' Keith Parker expects the lower corporate tax rate to lift corporate profits by 7% this year.

UBS' Keith Parker raised his year-end target for the S&P 500 to 3,150 from 2,900, citing the passage of the Republican tax plan.
His forecast is the
He expects the lower corporate tax rate to lift corporate profits by 7% this year.

UBS'

He forecast that the lower corporate tax rate would lift company earnings by 7.2%, excluding the effect of limits on interest deductibility. And just like the tax repatriation holiday of 2004, Parker expects companies to do heavy buybacks and acquisitions, which should also support earnings per share growth.

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