Goldman Sachs lifts S&P 500 target to 5,200, says Big Tech must do the heavy lifting

Just days ahead of potentially pivotal results from Nvidia Corp., Goldman Sachs has lifted its year-end S&P 500 target to 5,200, but with much of that hinging on Big Tech’s ability to keep delivering strong profits. “Our upgraded 2024 EPS forecast of $241 (8% growth) stands above the median top-down strategist forecast of $235 (6% growth) and reflects our expectation for stronger economic growth and higher profits for the Information Technology and Communication Services sectors,