Goldman Sachs Chief U.S. Equity Strategist David Kostin, in note titled "Where to Invest Now: The 45th Presidency," says he sees S&P 500 rising to 2,400 in 1Q before fading to 2,300 by year end.
Expects positive EPS revision potential from lower corporate tax rates, overseas cash repatriation, reduced regulation and fiscal stimulus.
Sees budget deficit to limit size of tax cuts while rising inflation will prompt the Fed to tighten quickly.
Policy uncertainty to lift return dispersion, benefiting tech and consumer discretionary.
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