CoinWorld reports that Wells Fargo economists have lowered their year-end S&P 500 index forecast from 7,800 points to 7,300 points, citing ongoing conflicts in Iran as a headwind to the economy. Chief stock strategist (Ohsung Kwon) remains optimistic about the stock market but points out that inflation is the main risk and states that investors are currently more inclined to hedge rather than sell off. The new target implies an 11% upside potential from the current level near 6,575 points. JPMorgan has also revised down its expectations, while Barclays Bank has raised its forecast due to anticipated strong corporate profit growth.