"The combination of friendly inflation data and signs of increasing labor market slack led our economists this week toof a US recession during the next 12 months to 15% from 20%," writes Goldman Sachs analyst David Kostin and his team in a recent note to investors.
The analysts have a year-end price target for the S&P of 4500, which is less than 1% higher than current levels. However, the analysts predict "resilient" earnings per share growth will lift the benchmark index by 6% to their 12 month target of 4700.
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