Goldman Raises S&P 500 Targets, Seeing Tax Cuts Lifting Profits
- Kostin expects bull market to become longest through 2020
- ‘Rational exuberance’ hinges on growth, low interest rates
UBS's Parker Sees a 12% Rally Ahead
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Improving prospects for lower taxes are prompting an erstwhile bear to sound a lot more bullish.
David Kostin at Goldman Sachs Group Inc., whose 2017 forecast for the S&P 500 Index of 2,400 is among the lowest among strategists tracked by Bloomberg, just increased his 2018 target to 2,850 from 2,500, citing an expansion in profits and valuations. That represents a 10 percent gain from the index’s close of 2,582 Monday.