Goldman Sachs raises its S&P 500 price target for the year as AI booms and the 2023 rally broadens out beyond biggest tech names
Goldman Sachs raised its price target for the S&P 500 in 2023, anticipating the index would move higher thanks to Wall Street's excitement for artificial intelligence and bullish indicators around the current stock market rally.
Strategists reiterated their previous forecast for corporate earnings at $224 a share, assuming that the economy avoids a recession in the second half of 2023. "Prior episodes of sharply narrowing breadth have been followed by a 'catch up' from broader valuation re-rating. The potential profit boost from AI has expanded the right tail for equities," the bank said in a note on Friday, though it acknowledged risks from a potential recession and more hawkish monetary policy from the Fed.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Goldman pushes back against bearish Morgan Stanley's Mike Wilson with new 4,500 S&P 500 targetResilient economic growth and softening inflation will keep stocks supported, says Goldman Sachs, which has a new bullish S&P 500 target.
Baca lebih lajut »
Goldman Sachs slashes oil price forecast by nearly 10% as Russian supply recoversRussia's oil production has remained resilient even in the face of Western sanctions.
Baca lebih lajut »
Goldman Sachs CEO: I've been surprised at economy's resilience over the last yearDavid Solomon, Goldman Sachs chairman & CEO, joins 'Squawk on the Street' to discuss the resilience of the U.S. economy, if the Federal Reserve still has a lot of work to do, and how macro headwinds impact investment banking and trading.
Baca lebih lajut »
Goldman Sachs CEO David Solomon warns of pain ahead for commercial real estateThe commercial real estate industry is in the throes of a painful adjustment to higher borrowing costs and lower occupancy rates.
Baca lebih lajut »
Goldman Sachs cuts its December Brent oil-price forecast by nearly 10%Goldman Sachs reduces its December forecast for global benchmark crude prices by almost 10% to $86 a barrel this week, blaming higher-than-expected supplies...
Baca lebih lajut »
'Bumps and pain' coming for the US economy, says Goldman Sachs CEO | CNN BusinessThe US economy has been surprisingly resilient this year, but painful bumps are likely coming, said Goldman Sachs CEO David Solomon in an interview with CNBC on Monday morning.
Baca lebih lajut »