The S&P 500 (SPX) has embarked on a historic rally since cementing a bottom on April 8 as fear peaked over President Trump’s tariffs. Since then, the benchmark index is up by about 25%.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Wall Street has certainly taken notice of the momentum and Trump’s softened tariff stance. Goldman Sachs (GS) has increased its 2025 SPX price target to 6,600 from 6,100, or an increase of 8.2%. This is the second time in the past two months that the investment bank has raised its price prediction.
Bank of America Lifts SPX Target to 6,300
Bank of America (BAC) joined in and raised its SPX target to 6300 from 5600, or an increase of 12.5%.
The two investment banks, along with Barclays (BCS), Citigroup (C) and Deutsche Bank (DB), have shifted to a more bullish stance in recent weeks as the benchmark index hovers near its all-time high.
“A resilient outlook for 2026 earnings growth, the resumption of Fed rate cuts, and neutral investor positioning argue for further market upside as the recent narrow rally broadens,” said Goldman on Monday.
The S&P 500 has returned 5.92% year-to-date.
