Institutional Insights: Goldman Sachs Raising SP500 12 Month Price Target
Institutional Insights: Goldman Sachs Raising SP500 12 Month Price Target
GOLDMAN SACHS - CHART OF THE DAY: RAISING OUR S&P 500 EPS GROWTH FORECAST
Analysts at Goldman Sachs have update their price objectivees for the SP500, "Ahead of the 3Q 2024 earnings season, GIR is raising our 2025 S&P 500 EPSforecast to $268 (+11% year/year) from $256 (+6%) and introducing a 2026 EPSestimate of $288 (+7%). We maintain our long-held full-year 2024 EPS forecastof $241 (+8%).We assume the market will capitalize earnings of $274 (2025)and $300 (2026), representing negative revisions to current bottom-upconsensus. Today’s P/E multiple of 22x is in line with our macro model of fairvalue.We forecast the P/E will be unchanged at year-end 2024, implying a4% gain in the S&P 500 to 6000 (vs. 5600 previously). Our new 12-monthprice target is 6300 (vs. 6000) and implies a 10% return.Path of S&P 500 price and EPS...
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Patrick has been involved in the financial markets for well over a decade as a self-educated professional trader and money manager. Flitting between the roles of market commentator, analyst and mentor, Patrick has improved the technical skills and psychological stance of literally hundreds of traders – coaching them to become savvy market operators!