S&P 500 hits Goldman Sachs' target for the year but their 'irrational exuberance' model intact
S&P 500 target of 2853 exceeded
Back in November, Goldman Sachs made what seemed like a bullish call for equities in 2018. They put a year-end target on the index of 2850.
That was a nearly 11% climb from the 2575 level at the time.
"Earnings drive stocks over time and should support the index rising to 2850 at year-end 2018, 3000 at the end of 2019, and 3100 by the close of 2020, representing a price gain during the next three years of 20%," the wrote.
Along with that, they included an interesting chart that compared the current market today 1987-2000. In that scenario, the market doubled in the final four years of the market.
It's hard to argue that this is anything other than pure euphoria hitting markets.
And I think the party might just be getting started.
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