JPMorgan: Chip bull market combined with reform dividends, raises target for Korea Composite Index to 7,500 points
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Glonghui, February 3rd|JPMorgan analysts stated that after surpassing the 5,000-point mark in January, South Korea's benchmark index, the KOSPI Composite Index, is expected to reach 7,500 points by 2026. In their report, analysts set this year's baseline target for the index at 6,000 points, with a bull market target of 7,500 points. They believe that, driven by rising chip prices, heavyweight stocks Samsung Electronics and SK Hynix have led the Kospi index higher. According to their estimates, these two stocks still have an upside potential of 45% to 50% by 2026. In addition, JPMorgan expects earnings per share in other non-memory industrial sectors to achieve approximately 20% growth. Ongoing corporate governance, market, and tax reforms in South Korea are also expected to serve as additional catalysts.
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