Goldman Sachs sees room for investors to grow more bullish on US stocks

📆 2023-08-21 2:22 PM
📰 YahooFinanceCA

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The sharp increase in investor equity allocations to U.S. stocks since the start of the year still has room to expand before breaching historical norms, suggesting that there may be more fuel left for the bull market, Goldman Sachs said. The net leverage exposure to equities by hedge funds remains below the average over the last 5 years, while cash allocations held by mutual funds remains 50 basis points above their lows from December 2021, representing a potential $49 billion of equity demand, GS strategists wrote in a note on Monday. Goldman Sachs maintained its year-end price target of 4,500 for the S&P 500 and its 12-month price target of 4,700.

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