ICYMI, via a Goldman Sachs note on Friday, the firm raised its targets for the US benchmark S&P 500 index:
- 6000 by end 2024 (their prior forecast was 5600)
- 6300 within 12 months (prior 6000)
- add that these targets may be 'too low'
GS cite:
- "our economists' forecast for U.S. GDP growth is above consensus"
- higher margin growth
- steady macroeconomic outlook through next year, "remains conducive to modest margin expansion"
- 2024 EPS estimate unchanged at $241
- 2025 EPS estimate to $268 (from $256)
- expect a recovery in the semiconductor cycle as well as ongoing strength for mega-cap techs
Goldman Sachs like Chinese equities also:
