The S&P, which crossed the 1700 mark last week, shows no sign of slowing down.
Goldman Sachs economist David Kostin predicts a 4% rise through year-end and 7% returns over the next 12 months.
"We expect earnings growth of 11% for 2013 and 8% for 2014, supporting a continued market rally," he writes in a new letter to clients.
Of course, with stocks at all-time highs, some seem to have nowhere to go but down.
In his new US Monthly Chartbook, Kostin offers a list of the 40 stocks with the most downside relative to Goldman analysts' price targets. All face double-digit downsides with one stock potentially falling 40% before it's fairly priced.
40. Comerica: 10.7% Downside
Ticker: CMS
Recent Price: $42.54
Downside to Target: 10.7%
Comerica, up almost 40% on the year, announced a third-quarter dividend of $0.17 per share.
Source: Goldman Sachs
39. Kroger: 10.9% Downside
Ticker: KR
Recent Price: $39.27
Downside to Target: 10.9%
Kroger recently acquired grocer Harris Teeter.
Source: Goldman Sachs
38. Analog Devices: 10.9% Downside
Ticker: ADI
Recent Price: $49.38
Downside to Target: 10.9%
The semiconductor company is up nearly 14% year to date.
Source: Goldman Sachs
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