In its latest client note, Goldman Sachs’ analysts offer their view on the US equity markets over the next three years.
Key Quotes:
“Raises S&P 500 earnings estimates for each of the next three years.
Raises S&P 500 EPS estimates to $159 in 2018 (from $150), $170 in 2019 (from $158), and $178 in 2020 (from$163).
Expect a modest 3 pct rise to year-end S&P 500 target of 2850 followed by a 5 pct gain in 2019 to 3000 raised information technology sector to overweight from neutral.
Expect Info Tech and Financials to lead S&P 500 earnings growth in both 2018 and 2019.
Expect a modest 3 pct rise to year-end S&P 500 target of 2850 followed by a 5 Pct gain in 2019 to 3000 raised information technology sector to overweight from neutral.
Cyclical stocks continues to outperform defensives in current environment of above-trend economic growth and rising interest rates.”
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