BofA raises S&P 500 year-end target to 5,400

BofA Global Research has lifted its year-end target for the S&P 500 index to 5,400, from 5,000 earlier, representing an upside of about 5% from current levels.

The new target reflects the shift in composition of the index and margin resilience of companies despite "big swings" in interest rates and inflation, the Wall-Street brokerage said in a note dated March 3.