1,331 Price Target Upgrade Reports as Chip Rally Shifts Broker Views

As the semiconductor rally pushes the Kospi toward the 8,000 level, South Korean brokerages are moving faster to raise target prices. According to the source text, price target upgrade reports totaled 1,331, unusually outnumbering reports that kept targets unchanged. The backdrop is a sharp rise in earnings estimates for leading semiconductor stocks. The momentum that began in chips is also spreading to securities and defense shares. In an atmosphere where bearish calls on share prices carry pressure, investors are watching how far earnings upgrades and target-price revisions extend across sectors. Source: mk.co.kr.