As the economy braces for slowing growth and an eventual recession threatens to materialize, Bank of America is changing its outlook on the S&P 500. Bank of America's equity and quant strategist, Savita Subramanian, cut the price target on the benchmark index to 4,500 from 4,600 on Friday. In their note to clients, the bank highlighted which sectors they are overweight, with one sector in particular standing out as a recession becomes a possibility.
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