Goldman Sachs raises US stock target price again, S&P 500 index raised by 7.7%
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Goldman Sachs strategist David Kostin's team on Friday significantly raised their year-end forecast for the S&P 500 index from the previous 5200 points to 5600 points. The reason is that earnings revisions are below average and they now believe that a higher price-earnings multiple is reasonable. Goldman Sachs released its initial S&P 500 target point in November last year, and the latest target of 5600 points is the third upward revision since the initial target was announced
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