Goldman Sachs predicts that the S&P 500 index will climb to 5100 next year

According to a report by Jin10, David Kostin, Chief US Equity Strategist at Goldman Sachs, predicts that due to declining inflation and the loose monetary policy of the Federal Reserve, the SP 500 index will rise to a record high of 5100 next year. This will keep real yields at a lower level and support valuations.

Kostin's team wrote in a report that the target price-to-earnings ratio for the end of 2024 exceeds 19 times. The three-month target for the SP 500 index is set at 4800, while the six-month target is set at 4900. Previously, Kostin predicted that the SP 500 index would reach 4700 by the end of 2024.