Key facts
- Bank of America lowered its S&P 500 year-end target to 7100.
- The firm cited rising market risks as the reason for the downgrade.
- BofA advised investors to "Take Profits".
Bank of America (BofA) has revised its outlook for the S&P 500 index, lowering its year-end target to 7100. This decision comes in response to growing market risks that the firm has identified. In light of these concerns, BofA has issued a recommendation to investors, advising them to "Take Profits" from their current positions.