According to reports, due to rising concerns in the artificial intelligence sector, Goldman Sachs Group strategy analysts lowered the target point of the Korea Composite Index, a 25% drop. Earlier this year, Goldman Sachs raised the index target several times. According to the report, a team of Goldman Sachs analysts led by Timothy Moe lowered the 12-month target point of the Korea Composite Index from 12,000 points to 9,000 points. The benchmark index fell more than 35% from its June high. The team adjusted based on this and adopted more conservative valuation assumptions. According to Goldman Sachs strategy analysts, the continued sell-off has deeply undervalued the valuation of relevant individual stocks; even if the target point is lowered, according to the latest forecast, the index still has room to rise by more than 60% compared to the current level.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.