Goldman Sachs S&P 500 forecast, further 10% lower within 3 months, but could be much further

Author: Eamonn Sheridan | Category: News

Goldman Sachs US chief equity strategist David Kostin stock market index projection

  • S&P 500 likely down by almost 10% in the next 3 months, to 2,450
  • if the economic impact from COVID-19 continues, could drop to 2,000
  • coronavirus to damage profits, inflict other harm to the economy
  • "The coronavirus has created unprecedented financial and societal disruption" 
  • "The combination of thin liquidity, high uncertainty, and positioning could cause the S&P 500 to fall below our 2,450 base case estimate of fair value and closer to a trough of 2,000."
Further out:
  • Q2 EPS could fall 15% y/y
  • V-shaped recovery in equities usually follow "event-driven" bear markets
  • expects 3,200 at end 2020

Goldman Sachs US chief equity strategist David Kostin stock market index projection

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