Goldman Sachs has again raised its end-of-year target for the S & P 500 to 6,300 from its previous target of 5,600 and its 12-month target to 6,300 from 6,000, according to its latest report, adding that the targets may be "too low". Goldman Sachs said: "Our economists' forecasts for US GDP growth are higher than the market consensus, and the stable macroeconomic outlook will continue into next year, which is conducive to a moderate expansion of the company's profit margins. A recovery in the semiconductor cycle is expected, while the strength of the large technology companies will continue to strengthen."