Major investment banks are significantly raising price targets for South Korea's Kospi index, citing sustained momentum fueled by the booming artificial intelligence sector and semiconductor giants. JPMorgan, Goldman Sachs, and Citi have all issued bullish forecasts, projecting substantial further gains for the market.
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JPMorgan: Kospi AI Rally Could Climb 25% More
Investment banks, including JPMorgan, Goldman Sachs, and Citi, have raised their price targets for the Kospi index, anticipating continued growth driven by the AI boom. JPMorgan specifically increased its bull-case target by projecting potential gains of over 25%, attributing the strength to semiconductor demand. Goldman Sachs cited expectations of 300% EPS growth for 2026, while Citi forecasts a 132% surge in semiconductor exports due to global AI capital expenditure. The rally is supported by strong performance in memory stocks and increasing inflows from retail investors into ETFs.
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