| Written by Brian O'Connell 
In a recent market update, Goldman Sachs raised its year-end forecast for the S&P 500 (SPX) to 6,900 by year-end, up from a previous ceiling of 6,500, and flagged three stocks investors should have on their radar, including two index stalwarts and one off-the-beaten-path growth opportunity. And Goldman is not alone. Several major investment banks are recalibrating their 2025 S&P 500 (SPX) forecasts at mid-year, reflecting renewed optimism around economic resilience, stabilizing inflation, and the increasing likelihood of a soft landing. Bank of America, for example, also raised its S&P 500 target, lifting its year-end forecast from 5,600 to 6,300, though it struck a more cautious tone. Strategist Savita Subramanian noted that slowing tech earnings and mixed macro data could limit further upside in the near term. Currently, the SPX stands at 6,263 and is up 6.49% year-to-date and 14.8% over the past three months. Goldman expects it to expand gradually over the next 90 days, with a 3% value increase in the S&P 500, followed by a 6% gain in the last three months of the year. At the core of Goldman’s bullish thesis are strong fundamentals and favorable policy dynamics. The Wall Street heavyweight projects S&P 500 earnings-per-share (EPS) to grow by 7% both this year and next, fueled by solid consumer demand, margin expansion, and robust performance from top-tier index constituents. Additional support is expected from the Federal Reserve via “earlier and deeper” interest rate cuts. Still, Goldman acknowledges that risks remain. “The shifting tariff landscape creates large uncertainty around our earnings forecasts, which are roughly in line with consensus in 2025, but below consensus in 2026,” David Kostin, the firm’s Chief U.S. Equity Strategist, noted in the team's July 7 report. In light of all this, Goldman highlighted three stocks to watch in the second half of 2025 that it believes are well-positioned to benefit from its broader market thesis. Kohl’s(NYSE: KSS), Intellia Therapeutics(NASDAQ: NTLA), and Gogo Inc.(NASDAQ: GOGO) are each tied to structural trends Goldman sees driving outperformance: retail repositioning, gene-editing breakthroughs, and the expansion of in-flight connectivity. Kohl’s: A Deep Value Play With a Turnaround Catalyst Kohl’s is trading down 33.40% for the year, although its share price is up 20.5% over the past 90 days. The stock also comes with a hefty 5.35% dividend. Due to its high short interest and a deeply discounted valuation, Goldman sees Kohl’s as a classic contrarian opportunity. Despite ongoing challenges in the retail space, Kohl’s is taking strategic steps to reposition itself, such as focusing on inventory discipline, cost-cutting measures, and enhancing its loyalty program. This should help stabilize its revenue in the second half of the year. In addition, Kostin noted that stocks with high floating-rate debt should benefit from lower bond yields when the Federal Reserve rate cuts are implemented later in the year, as expected. Kohl’s should meet that criteria, offering a rare retail sector upside along with a low forward P/E multiple and dividend that income-minded investors will likely appreciate. Intellia Therapeutics: Gene Editing With Real Momentum This Cambridge, Massachusetts-based biotech firm has seen its share price skyrocket by 45.3% in the past month—a huge rebound for a company looking to find solid footing in the gene-editing space. Intellia develops drugs with CRISPR-based therapies, pioneering in vivo therapies for rare genetic disorders, including hereditary angioedema and transthyretin amyloidosis (ATTR). Although its programs remain in early-stage clinical development, Intellia has garnered significant recognition for its robust intellectual property portfolio and scientific leadership, earning credibility across both the biotech and investor communities. NTLA is a likely beneficiary of Eli Lilly's(NYSE: LLY) acquisition of Verve Therapeutics(NASDAQ: VERV), a specialist in genetic cardiovascular medicines. The $1.3 billion deal spotlighted the importance of gene therapies and editing, where NTLA shines. For investors with a tolerance for volatility, Intellia stands out as a long-term growth story that is currently trading at a short-term discount, despite the recent share price boost. Gogo: A Small-Cap Sleeper in In-Flight Connectivity Though not an S&P 500 constituent, Gogo earned a spot on Goldman’s radar thanks to its leadership in business aviation connectivity. The firm recently initiated coverage of Gogo with a Buy rating and a $15 price target, citing strong recurring revenues and the rollout of its next-generation 5G air-to-ground network as key growth drivers. GOGO's stock price is up a whopping 117% over the past three months, and the good times should continue after Gogo just earned a Supplemental Type Certification for 42 aircraft types via the U.S. Federal Aviation Administration. The certification comprises 70% of the company’s current air-to-ground customer North American aircraft inventory. Additionally, the aerospace technology company announced the first-ever completed call using Gogo’s GCT chipset. This maximizes 5G-related transmission outputs and expands the company’s air-to-ground communications transmissions supported by a network of 170 5G towers. Gogo expects a “full go” on its 5G chip by 2026. While the broader chip development work has been led by AI and hyperscalers, Gogo offers customers exposure to aviation infrastructure with a growth curve that's just starting to steepen with its 5G rollout underway. Goldman believes Gogo is a good example of a niche technology that should accelerate in the second half of 2025. In particular, GOGO shares meet Goldman’s growth formula, characterized by a negative bond yield correlation, a strong recurring revenue model, and an improving capital markets backdrop, all of which position GOGO on a favorable path for the remainder of 2025.  Read This Story Online | 
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