Goldman Sachs Maintains 12,000 Target for Kospi Amid Valuation Outlook

Goldman Sachs keeps its 12,000-point target for the Kospi index, citing a 5x P/E ratio and a view that the current semiconductor memory cycle is larger and longer than typical.

Woofun AI reports that Goldman Sachs chief Asia-Pacific equity strategist Timothy Moe reaffirmed the firm's bullish stance on the South Korean stock market, maintaining a 12,000-point target for the Kospi index. Moe stated that if volatility subsides, fundamentals will reassert dominance, noting the current price-to-earnings ratio of 5 times indicates clear undervaluation. He argued that the market underestimates the persistence of the semiconductor memory cycle, asserting it is larger and longer than typical cycles.