Goldman Boosts S&P 500 Target on Earnings Growth, Low Rates
- Goldman strategists raise year-end target to 4,700 from 4,300
- New target implies 7% gain in benchmark from current level
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Goldman Sachs Group Inc. strategists lifted their outlook for the S&P 500 Index as robust earnings growth and low interest rates fuel optimism that stocks can continue rallying despite record high levels.
David J. Kostin and his colleagues raised the end-2021 target to 4,700 after the benchmark U.S. index surpassed their earlier prediction of 4,300 about a month ago, according to a note. This implies a return of about 7% from current levels for the remainder of the year and is now the highest forecast along with Oppenheimer & Co’s in the monthly Bloomberg survey of Wall Street strategists from July.