Goldman Sachs has forecast the S&P 500 index would reach 6,500 by the end of 2025, joining peer Morgan Stanley, on the back of continued growth in the U.S. economy and corporate earnings.

Michael Wilson, chief U.S. equity strategist and CIO for Morgan Stanley, sees the S&P 500 ( SP500) rising 11% by the 2025 year-end, with a 21.5x price-to-earnings multiple on 12-month forward EPS of $303. His previous price target for the index was at 5,400 for mid-2025.

The S&P 500 has gained over 24% so far this year but analysts expect the index to record significant upsides from current levels by next year. Morgan Stanley Strategist Michael Wilson reportedly expects the S&P 500 hitting 6,

Morgan Stanley has increased its 12-month base case price target on the S&P 500 to 6,500, the firm's equity strategist Michael Wilson and other strategists wrote in a note on Monday. The benchmark index was last at 5,