Goldman Sachs jam its end of year S&P500 target 400 points higher

Goldman Sachs has raised their end-2021 target to 4700 from the previous projection of 4300.

Citing … 

Q2 earnings coming in far higher than expected

  • exceeding expectations by historically wide margins
  • expect aggregate earnings per share for companies in the S&P 500 will be $207 this year, up from a previous forecast of $193
  • Further ahead, 2022 expecting aggregate EPS of $212, up from $202

And, bond yields remain low

  • “Lower interest rates than expected support a stable forward P/E multiple of 22x”
  • the GS forecast for 10-year Treasury yield by year-end is 1.6% (from 1.9% previously)

Goldman Sachs has raised their end-2021 target to 4700 from the previous projection of 4300.

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