S&P 500 should hit 4,700 by 2021-end, say Goldman Sachs analysts

The S&P 500 index is likely to rise 7% more this year to end 2021 at 4,700 as companies report strong earnings growth and the Federal Reserve maintains its pandemic-era monetary stimulus, Goldman Sachs analysts said.
 

They raised their 2021 price target for the benchmark U.S. stock index to 4,700 from 4,300, according to a note published on Thursday, implying a 25% rise this year. The index rose over 16% last year as ultra-low interest rates to lift the economy from a pandemic-led slowdown drove a sharp recovery in stocks.

It has posted six straight months of gains in 2021, rallying