Goldman Sachs Raises S&P 500 Targets Amid Strong Earnings Outlook

Goldman Sachs has updated its year-end and 12-month forecasts for the S&P 500 index, driven by anticipated margin growth for businesses and a positive macroeconomic outlook extending into 2025.

On Friday, the investment bank increased its 12-month target for the index from 6,000 to 6,300 and raised its current year-end projection from 5,600 to 6,000.

This new target suggests a potential gain of 4.32% based on the index’s closing value of 5,751.07 on Friday.

The firm is optimistic about corporate earnings, adjusting its earnings per share (EPS) estimate for 2025 to $268 from $256, indicating an 11% annual growth. Goldman Sachs has kept its 2024 EPS estimate at $241.

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Key U.S. Economic Events This Week That Could Impact the Crypto Market

Recent data indicated that the U.S. economy outperformed expectations in the second quarter, bolstered by robust consumer spending and a rebound in corporate profits, which should support ongoing growth. Goldman Sachs analyst David Kostin noted that the macroeconomic environment is favorable for modest margin expansion.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.