Goldman Sachs cuts South Korea's KOSPI 12-month target by 25%

Odaily reports: Goldman Sachs strategists have lowered their target for South Korea's KOSPI index by 25%. After having raised the index's target multiple times earlier this year, they have now chosen to cut it as market concerns over AI-related trades intensify. The analyst team led by Timothy Moe lowered the 12-month KOSPI target from 12,000 points to 9,000 points. They noted that given the benchmark index has fallen more than 35% from its June high, valuation assumptions need to become more prudent. These strategists believe this selloff has left the South Korean stock market severely undervalued; even after the target cut, the index still has more than 60% upside potential.