Prediction check:
February 5, 2023, three months ago.
SP500 was higher than now: 4111.
This GS analyst revised his SP500 prediction upwards. He had been in the SP500 3600 camp but as positive econ news came through and GDP Now suggested yet another recession-free quarter, he raised his target for early May (where we are now) to 4000. Still bearish, but less bearish.
And his call was a good one. We're now right there, at 4090.
Carl Quintanilla 🔥
@carlquintanilla
GOLDMAN: “Recent macro developments have strengthened our economists’ confidence in a soft landing .. We therefore believe the risk of a substantial drawdown in the near term has diminished .. We raise our 3-month S&P 500 price target to 4000 (-3% from today) from 3600.” [Kostin]
9:28 PM · Feb 5, 2023
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