Goldman Sachs Updates Stock Market Outlook: Analyst Note on S&P 500 Price Target
Monday, 7 October 2024, 16:50
Goldman Sachs Raises S&P 500 Price Target Again
Strategists at Goldman Sachs have revised their stock market outlook once more, raising the S&P 500 year-end price target for the third time in this calendar year. On Friday, Goldman's chief strategist, David Kostin, announced the expectation for the S&P 500 to finish at 6,000, which stands as the second-highest target among Wall Street strategists.
Implications for Investors
- With the S&P 500 currently trading at approximately 5,720, Kostin's new target indicates a potential return of about 5% within the remaining months of the year.
- This upward revision follows an initial year-end target set at 4,700 late last year, which was subsequently increased to 5,200 in February and 5,600 in June.
- Kostin also raised the 12-month S&P 500 price target to 6,300 from a previous estimate of 6,000.
These updates reflect a positive sentiment within the markets, showcasing Goldman Sachs' confidence in the trajectory of corporate profits and stock performance.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.