On the same day that Goldman’s chief of US equity research David Kostin capitulated for the second time in the past month, and one month after cutting his year-end S&P price target from 5,100 to 4,900, the Goldman strategist followed up with another 200-point cut to his S&P price target after the close on Friday (he now expects the S&P to close the year at 4,700, i.e., down on the year ) but even so Kostin is trying to spin this latest deterioration as a positive outcome, saying it represents a generous 10% “upside” from current levels. There was […]
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