Updates with S&P 500 forecast change from Goldman Sachs, UBS Global Wealth Management; GDP estimates from 5 brokerages

May 27 (Reuters) - Top brokerages expect the benchmark S&P 500 index .SPX to extend its rally in 2026, even as the months-long Middle East conflict disrupts global energy flows and drives inflation higher.

Strategists at major investment banks expect AI momentum and strong corporate earnings to offset the conflict's short-term economic impact. However, they warn that persistently higher oil prices could increase recession risks.

Goldman Sachs became the latest brokerage to raise its index target, adding to a wave of bullish brokerage calls.

Following are forecasts from some top brokerages on economic growth and the performance of U.S. stocks in 2026:

Forecasts for stocks:

Brokerage	2026 S&P 500 index target
BofA Global Research	7,100
Societe Generale	7,300
UBS Global Research	7,500
Jefferies	7,500
Canaccord Genuity	7,500
BNP Paribas	7,500
J.P. Morgan	7,600
Barclays	7,650
HSBC	7,650
Citigroup	7,700
Evercore ISI	7,750
Seaport Research Partners	7,800
RBC Capital Markets	7,900
UBS Global Wealth Management	7,900
Deutsche Bank	8,000
Goldman Sachs	8,000
Morgan Stanley	8,000
Oppenheimer Asset Management	8,100
Wells Fargo Investment Institute	7,400-7,600

Real GDP Growth:

Brokerage	GLOBAL	U.S.	EURO AREA	UK
Citigroup	2.7%	2.3%	0.9%	0.8%
Goldman Sachs	2.4%	2.1%	0.7%	1.2%
Morgan Stanley	3.2%	2.2%	0.6%	0.9%
Barclays	3.1%	2.6%	0.8%	0.7%
Wells Fargo	2.6%	2.1%	0.6%	0.7%
UBS Global Wealth Management	3.1%	1.7%	1.1%	1.1%
Deutsche Bank	3.3%	2.5%	0.5%	1.3%
HSBC	2.5%	2.1%	0.7%	0.8%
J.P. Morgan	2.5%	2.0%	0.7%	1.2%
BofA Global Research	3.1%	2.2%	0.7%	1.0%
UBS Global Research	3.1%	1.7%	0.8%	0.6%

* UBS Global Research and UBS Global Wealth Management are distinct, independent divisions in UBS Group

* Wells Fargo Investment Institute is a wholly owned subsidiary of Wells Fargo Bank