Goldman Sachs Lifts STOXX 600 Target to 660 Points
Goldman Sachs raised its 12-month STOXX 600 target to 660, citing resilient corporate earnings and AI-related optimism. The new target implies a 5.4% upside from the previous close, though analysts warned that persistent inflationary pressures and high interest rates could cap further valuation gains.
Goldman Sachs Group Inc raised its 12-month target for the STOXX 600 index to 660 on June 1. The new forecast implies a 5.4% upside from the index's previous close of 626. Resilient corporate earnings and AI-driven optimism are offsetting geopolitical risks and high interest rates.
### Earnings Resilience Drives European Upside Goldman Sachs analysts cited solid nominal growth and positive revisions in the energy sector as primary drivers for the upgrade. The brokerage also lifted its three-month and six-month targets to 640 and 645, respectively, according to a note dated Friday. There was no immediate clarity on Goldman Sachs' previous target levels.
