Wednesday, 11 November 2020 14:18

"It's The Roaring '20s Again": Goldman Boosts Forecast, Now Sees S&P Hitting 4,600 In 2022

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"It's The Roaring '20s Again": Goldman Boosts Forecast, Now Sees S&P Hitting 4,600 In 2022 Tyler Durden Wed, 11/11/2020 - 08:57

Two days ago, JPMorgan - which just two weeks ago predicted that "an orderly Trump victory was the most favorable outcome for equities (upside to ~3,900)" while arguing that a Blue Wave is viewed "as short-term neutral but long-term negative, as the expected Biden tax policy outweighs the benefits from a larger than expected stimulus package", engaged in some pretty blatant revisionism and not only flip-flopped on its view of how Congressional gridlock would impact markets, which it now sees as the most favorable outcome for stocks, but in a note saying that the "Vaccine Rotation, Subsiding Risks" are nothing short of "Market Nirvana", boosted its September price targets and now sees the S&P reaching 3,600 before year-end, 4,000 by early next year, and "a good potential for the market to move even higher (~4,500) by the end of next year."

Well, since there is never just one revisionist Wall Street strategist, this morning Goldman Sachs copied JPM's revised forecast almost verbatim, and in a note from David Kostin which sees 2021 as a redux of the "roaring '20s" - which as everyone knows ended with the Great Depression and eventually World War II...

...   the bank rasied its 2020 S&P 500 target to 3700 from 3600; it also forecasts the S&P 500 will climb by 16% to 4300 at year-end 2021 and gain 7% to reach 4600 by the end of 2022.

The reason? As Kostin, who curiously had already factored in positive vaccine news into his forecasts explains, "a vaccine is a more important development...

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