ICYMI - Goldman Sachs forecasts S&P 500 as high as 6500

Goldman Sachs targets for the benchmark US S&P 500, ICYMI:

Three-month target 5,900, GS see the current advance stalling in the short term

• up from 5,700
• “Already-optimistic market pricing of the economic growth outlook as well as uncertainty surrounding the magnitude of impending slowdown in economic and earnings growth will likely keep a ceiling on equity multiples during the next few months”

Sees 6,500 in the next 12 months

• up from 6,200 previously

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Goldman cut S&P 500 forecasts twice in March, citing higher recession risk and tariff-related uncertainty. Say now that such concerns have eased:

• agreement between US and China
• Big Tech stocks should especially recover
• buy caution that the broader earnings outlook is uneven
• “Despite the recent improvement in the growth outlook, tariff rates will likely be substantially higher in 2025 than they were in 2024, putting pressure on profit margins"

Other analysts have also revised their forecasts. Social media is alight with those lambasting changing calls. I know many years ago someone said he changes his forecasts as incoming information changes. I've yet to see a better approach for traders, but perhaps the social media pundits know better.