Goldman Sachs Boosts S&P 500 Target on Upbeat Profit Outlook

 

• Firm lifts index’s year-end estimate to 5,600 by 2024’s close
• The new forecast is in line with the highest on Wall Street

Goldman Sachs Group Inc. strategists have boosted their year-end target for the S&P 500 Index for a third time, reflecting Wall Street’s optimistic outlook for earnings growth and the US economy.

The bank’s equity strategists led by David Kostin now see the US stock benchmark index finishing the year at 5,600, up from a 5,200 level they predicted in February. The new target implies a roughly 3% advance in the gauge from its Friday close.

https://www.bloomberg.com/news/articles/2024-06-14/goldman-sachs-boosts-s-p-500-target-on-upbeat-profit-outlook