With Wall Street indices hitting fresh records and the Fed embracing a dovish pivot with further rate cuts on the table, Goldman Sachs wasted no time upgrading its S&P 500 target—but it’s the bank's unusual stock picks that stand out.
In a note shared Friday, the bank’s equity analyst David Kostin raised its 12-month target for the S&P 500 to 7,200, up from a previous forecast of 6,800, as strong earnings, light positioning and a favorable rate outlook create a recipe for continued gains. The index has already gained 14% year-to-date, with earnings growth being the primary driver.
