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Goldman's Bullish Bet: S&P 500 Target Raised to 6,300 Amid Profit Growth Optimism

AInvestFriday, Oct 4, 2024 8:00 pm ET
1min read

Goldman's chief U.S. equity strategist, David Kostin, has revised the 12-month target for the S&P 500 to 6,300 points, up from the previous 6,000 points. This change is driven by anticipated profit growth expected by 2025, providing a more optimistic outlook for investors.

Kostin has also adjusted the expected earnings per share for the S&P 500 in 2025, raising it from $256 to $268. This represents an 11% increase compared to the previous year, reflecting stronger corporate earnings potential.

The upward revision signifies confidence in the market's ability to deliver sustainable profit growth, bolstered by a favorable economic environment and corporate performance. Kostin's projections suggest enhanced investor confidence, which could attract more capital inflow into equities.

Kostin’s analysis underscores the view that robust earnings growth will be a key driver for the S&P 500's performance, reflecting the overall strength of the U.S. economy. Investors will be closely watching upcoming earnings reports to assess alignment with these projections.

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