Goldman Sachs has raised its target for S&P 500 again, as high as 6300

ICYMI, via a Goldman Sachs note on Friday, the firm raised its targets for the US benchmark S&P 500 index:

• 6000 by end 2024 (their prior forecast was 5600)
• 6300 within 12 months (prior 6000)
• add that these targets may be ‘too low’

GS cite:

• “our economists’ forecast for U.S. GDP growth is above consensus”
• higher margin growth
• steady macroeconomic outlook through next year, “remains conducive to modest margin expansion”
• 2024 EPS estimate unchanged at $241
• 2025 EPS estimate to $268 (from $256)
• expect a recovery in the semiconductor cycle as well as ongoing strength for mega-cap techs

Goldman Sachs like Chinese equities also:

• Goldman Sachs upgraded its call on Chinese stocks to overweight

This article was written by Eamonn Sheridan at www.forexlive.com.