Home market Goldman has cut end-2022 S&P 500 target to 4900 from 5100 due to higher rates & lower valuat

Goldman has cut end-2022 S&P 500 target to 4900 from 5100 due to higher rates & lower valuat

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Goldman has cut end-2022 S&P 500 target to 4900 from 5100 due to higher rates & lower valuat

Goldman has cut end-2022 S&P 500 target to 4900 from 5100 due to higher rates & lower valuation. Stick to 2022 S&P 500 EPS est of $226 (+8% YoY) & lift 2023 EPS est to $240 (+6% YoY). BUT higher inflation will lead to lower forward P/E multiple of 20x, below prev forecast of 22x. h/t Holger Zschaepitz

Goldman has cut end-2022 S&P 500 target to 4900 from 5100 due to higher rates & lower valuat

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