Add as a preferred source on GoogleGoldman Sachs Cuts 12-Month KOSPI Target by 25% to 9,000
The strategists had raised the target several times this year. They still see more than 60% upside after the index fell more than 35% from its June peak.
Goldman Sachs strategists lowered their 12-month target for South Korea's benchmark KOSPI index to 9,000 from 12,000, a 25% cut as concerns about AI-related trades intensified.
The strategists had raised the target several times this year before reversing course. They said the index's decline of more than 35% from its June high prompted them to use more conservative valuation assumptions.
Goldman Sachs strategists described Korean stocks as deeply undervalued after the selloff. They said the revised target still implied more than 60% upside for the index.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.