News Formal

Goldman Sachs ups S&P 500 forecast but cuts earnings outlook

  • 📰 CNBC
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Goldman Sachs raised its 2019 year-end price target for the U.S. benchmark S&P 500 index by 3% to 3,100 points on Tuesday.

index by 3% to 3,100 points on Tuesday, but revised down its earnings estimates, citing weakness in economic activity and margin outlook.

But despite the earnings squeeze it's still positive on a further rise for stock markets. The new price target for the S&P 500 implies a 24% full-year gain for 2019. It also set a 2020 year-end price target of 3,400, a 10% rise from the 2019 target.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UPS downgraded by Stifel: Investments could limit earnings growth next yearStifel downgraded UPS to hold from buy and maintained its $118 per share price target They caught short . Don’t follow bad advice b They wrong
Source: CNBC - 🏆 12. / 72 Read more »