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Goldman Sachs forecasts the S&P 500 will reach 8,700 over the next 12 months, implying roughly 14% upside from the current 7,619 level and a 16% total return including dividends. Chief global equity strategist Peter Oppenheimer bases the call on expected 11% earnings growth. The target represents one of the more bullish major-bank outlooks for U.S. equities. Investors will watch whether earnings delivery tracks the forecast and how rate policy affects valuation multiples.

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S&P 500, Goldman Sachs (GS), Peter Oppenheimer

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