Goldman boosts S&P 500 earnings outlook

Revised forecast: People walk past Goldman Sachs headquarters in New York. Goldman’s baseline forecast for S&P 500 earnings per share in 2020 is US$115, up from a prior estimate of US$110. — Bloomberg

NEW YORK: Goldman Sachs Group Inc has become a little more optimistic on earnings prospects for the S&P 500 Index this year but stressed that management commentary from companies is going to be important to gauging the outlook.

Goldman’s baseline forecast for S&P 500 earnings per share in 2020 is US$115, up from a prior estimate of US$110. The firm maintained its outlook for 2021 at US$170 – 4% above 2019’s realised level – and made a prediction of US$188 for 2022.