Goldman SachsStrategists raised the year-end target from 4300 to 4700.

The new target means that the already record index will rise by 7% from the current level.

Goldman Sachs strategists raise their outlook for the S & P 500 indexAlthough US stocks have reached all-time highs, strong earnings growth andThe low interest rate environment has fuelled optimistic expectations that the market will continue to rise.

According to a Goldman Sachs report, after the S & P 500 broke its forecast level of 4300 a month ago, David J. Kostin and his colleaguesRaise the index target to 4700 by the end of 2021Which meansThe index is likely to rise by about 7% this year.。

Oppenheimer also raised its point forecast on Aug. 2, with John Stoltzfus, its chief investment strategist, raising its year-end target for the S & P 500 to 4700.

The strong earnings season pushed the US stock market to a record, overshadowing fears of a delta variant and a possible downsizing of monetary stimulus measures. Goldman Sachs strategists also raised their forecast for this year's earnings per share to $207 from $193 on Thursday, meaning an annual growth rate of 45%.

Given the large number of share buybacks and increased cash holdings, companies and households are expected to be the biggest buyers of the US stock market, Goldman said. In the face of the situation that some areas are still affected by the epidemic, investors should strike a good balance between long-term growth stocks and short-term strategic bets in their portfolios.

Goldman Sachs strategists raised the S & P; target to 4900 by the end of 2022 from 4600, with a full-year return of about 4.3 per cent. They expect earnings growth to slow next year, with earnings per share growing at an annual rate of 2%.