Goldman Sachs raised its target for the S & P 500 by the end of the year to 4700 from 4300.

新浪財經 ·  08/05/2021 17:52

Under the dual influence of better-than-expected profits and lower-than-expected interest rates, Goldman SachsStrategists raised their forecasts for the S & P 500.

Strategists, including David J. Kostin and Ben Snider, raised the S & P target by 9 per cent to 4700 from 4300 by the end of 2021, meaning the index still has 7 per cent room to rise from its current level.

The target will be raised from 4600 to 4900 by the end of 2022.

The S & P closed Wednesday at 4402.66.

"We expect earnings growth to be the main driver of US stock returns in the second half of this year and next," the strategists wrote in the report.

Lower-than-expected interest rates support a stable price-to-earnings ratio of 22 times earnings.

It is expected that the reform of the corporate tax system will have a negative impact on corporate profits in 2022 and beyond.

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