UBS Lowers KOSPI Target from 8,800 to 8,000... Burdened by Interest Rates, Oil Prices, and Strong Won

UBS has lowered its 12-month KOSPI target by 9%, from the previous 8,800 to 8,000, citing that rising interest rates, oil prices, and a strong Won will weigh on corporate earnings growth.
- It presented an upside scenario target of 9,200 and a downside scenario of 5,100.
- While the upside potential remains attractive, the bank forecasts that the KOSPI may largely remain in a range-bound market until visibility regarding the sustainability of profit growth and shareholder return policies increases through the upcoming Q3 and Q4 earnings seasons.
Source: Oh Sun-save