Goldman’s Kostin Lifts S&P 500 Target for Second Time Since May

Goldman Sachs Group Inc. strategists raised their outlook for US stocks for the second time in two months, saying they expect the Federal Reserve to act sooner to cut interest rates.

The team led by David Kostin lifted their 12-month forecast for the S&P 500 index to 6,900 from 6,500, and increased the year-end target to 6,600 from 6,100. They also cited lower Treasury yields and the continued strength in the largest US companies as reasons why stocks are likely to keep heading higher.