Goldman Sachs Raises Ratings for Japanese Stocks and Target Price for Asian Stock Benchmark Index
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Glonghui, February 13th|Goldman Sachs has upgraded its rating on Japanese stocks, expecting that political stability will provide a boost. The bank also raised its target price for the Asian stock benchmark index, stating that with semiconductor momentum supporting earnings, the market is likely to continue its strong performance following a robust start to the year. Strategists including Timothy Moe wrote in the report that Asia's earnings outlook continues to improve, especially in the technology sector; meanwhile, the results of the Japanese election also support higher valuations. The bank raised the target price for the MSCI Asia-Pacific (excluding Japan) Index from 855 points to 890 points (an 11% upside potential). Goldman Sachs set a new target price of 6,400 points for the Korea Composite Stock Price Index (Kospi), representing a 16% upside, and noted that the current AI-driven memory chip cycle is a "super cycle," with strength and duration expected to surpass previous cycles. The bank maintains its overweight rating on Korea and India.
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