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GOLDMAN SACHS RAISES S&P 500 YEAR-END TARGET TO 5,600

NEWS Desk Global



Goldman Sachs has raised its 2024 year-end target for the S&P 500 Index to 5,600 from 5,200, citing strong earnings growth by five mega-cap U.S. tech stocks and a higher fair value price-to-earnings ratio multiple.

Microsoft, Nvidia, Google, Amazon, and Meta Platforms have collectively surged by 45% and now comprise 25% of the S&P 500 equity cap. The brokerage expects roughly unchanged real yields by the year-end and strong earnings growth to support a 15x P/E for the equal-weight S&P 500 Index.

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