Strategist Who Called Rally Last Year Sees S&P Soaring to 6,100 [Yahoo! Finance]
Goldman Sachs Group, Inc. (The) (GS)
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Source: Yahoo! Finance
(Bloomberg) -- The stock market's furious run that has sent the S&P 500 Index flying 20% this year is far from over, according to BMO Capital Markets. Most Read from Bloomberg Brian Belski, the firm's chief investment strategist, raised his 2024 year-end forecast for the US equities benchmark to 6,100 — the highest target among Wall Street targets tracked by Bloomberg — from 5,600 previously. The S&P 500 closed Wednesday at 5,618, and Belski sees another 9% gain for before the end of 2024. The market is already cooperating, with the index rising 1.7% at midday Thursday, putting it on track for a new record closing high. Belski, one of few soothsayers to correctly call the rally last year, is lifting his outlook for the second time this year. Strategists' average year-end target stands around 5,523, according to data compiled by Bloomberg. “We continue to be surprised by the strength of market gains and decided yet again that something more than an incremental adjustment was w
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