Banking giant Goldman Sachs is raising its year-end target for the S&P 500 as the economy’s strength shows strong earnings.
Goldman raised its forecast for the end of 2026 to 8,000 from 7,600, citing continued earnings growth, reports Reuters.
The new target is 6.4% above the S&P 500’s last close of 7,519.12, according to the report. Goldman says earnings growth has led the entire S&P 500 to rebound this year and expects that trend to continue in the coming months.
The bank also raised its S&P 500 earnings per share forecast to $340 in 2026, representing 24% annual growth.
Goldman says companies built on AI are expected to generate nearly half of their revenue this year.
The bank says the benefits of AI can help reduce consumer spending and increase costs. Goldman also says that semiconductor stocks built by the AI infrastructure complex will outpace earnings.
The new call follows other forecasts from major Wall Street firms.
Morgan Stanley recently he predicted The S&P 500 could rise to 8,300 within 12 months, citing a recovery and a stock market that has already bought on several risks.
JPMorgan Chase also recently he was promoted his target for 2026 S&P 500 to reach 7,600 from 7,200, citing strong earnings, increased investor interest around AI and reduced sovereign risk.
Follow us X, Facebook and Telegram
Don’t Miss Out – Sign up to receive email notifications straight to your inbox
Swimming The Daily Hodl Mix
 
Disclaimer: The views expressed in Daily Hodl are not financial advice. Investors should do their due diligence before making any risky investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any assets including cryptocurrencies, nor is The Daily Hodl a financial advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image Created: Midjourney
