The top companies on the stock exchange are going to make more money than previously anticipated, at least in Goldman Sachs ' (NYSE: GS) estimation.
The investment bank's strategist David Kostin has lifted his full-year 2021 earnings-per-share forecast for S&P 500 index companies to a collective $181. While that's only a 2% bump from Goldman's previous estimate, it signals that forecasters like Kostin are now anticipating a quicker-than-previously expected recovery from the economic damage wrought by the coronavirus pandemic.
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Goldman Sachs Raises 2021 Profit Estimate for the S&P 500 Index