Goldman Sachs sees the S&P 500 gaining 11% over the next year as stock market gains continue to broaden out from a few large tech names.

The S&P 500 could hit 6500 by the end of next year, according to Goldman Sachs and Morgan Stanley, boosted by the U.S. economy's growth and higher corporate earnings.

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.