S&P 500 May Reach 2,100, Goldman Sachs Says
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Goldman Sachs Group Inc. said the U.S. stock-market rally may last at least another 2 1/2 years, sending the Standard & Poor’s 500 Index up 26 percent to 2,100.
David Kostin, the bank’s New York-based chief U.S. equity strategist, raised forecasts for the U.S. equity benchmark, predicting it will finish 2013 at 1,750 and 2014 at 1,900 as stock valuations increase, according to a research report dated yesterday. The S&P 500 trades at 16.3 times reported operating profit, 16 percent below the average since 1998, data compiled by Bloomberg show.