Wall Street may already be sitting near record highs, but Goldman Sachs believes the rally still has legs—thanks to lower yields, mega-cap momentum and the Fed's return to cutting rates, the bank now sees the S&P 500 hitting 6,900 in the next 12 months.
In a new note Monday, David J. Kostin, chief U.S. equity strategist at Goldman Sachs, said he expects the S&P 500 – as tracked by the Vanguard S&P 500 ETF (NYSE:VOO) – to climb to 6,400 in three months, a gain of 3%, 6,600 by year-end, up 6%, and 6,900 within 12 months, an 11% increase.
