Savvy Trades and Investments

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Earlier this week, JP Morgan set their EOY 2021 S&P target at 4500. Now Goldman sets their target at 4300.

Goldman hikes S&P 500 target, sees a 20% gain by end of 2021

Pfizer’s promising vaccine news prompted Goldman Sachs to lift its stock-market outlook on Wednesday.

The firm hiked its year-end S&P 500 target to 3,700 from 3,600, a 4% rise from Tuesday’s close of 3,545.53. Goldman also expects the broad equity benchmark to rally to 4,300 by the end of 2021, which represents a 21% gain from here.

“A vaccine is a more important development for the economy and markets than the prospective policies of a Biden presidency,” David Kostin, the bank’s chief U.S. equity strategy, said in a note on Wednesday. “The much-awaited results from Pfizer (PFE) that its COVID-19 vaccine has an efficacy rate greater than 90% is a positive event that will allow society to gradually normalize during 2021.”now Goldman sees 4300