Workers at Hana Bank in Jung District, central Seoul, celebrate the benchmark KOSPI breaching the landmark 8,000 points on May 15. [YONHAP]
Goldman Sachs on Wednesday made a bullish lift to its 12-month Kospi target from 9,000 to 12,000, pointing to strong earnings growth and the prospect of a prolonged upcycle in the memory semiconductor sector.
The Wall Street bank said in a note that the Kospi has around 37 percent additional upside potential, and that while a short-term correction is possible, the investment appeal remains high.
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It maintained its "overweight" stance on the Korean stock market, pointing to expectations of "higher earnings, underpriced memory cycle duration and rerating catalysts."
