Chip Rally Drives 1,331 Target-Price Upgrades as Broker Optimism Spreads

As a semiconductor-led rally pushes the Kospi close to the 8,000 level, brokerages are moving quickly to raise target prices. According to the original report, target-price upgrade reports recently totaled 1,331, an unusually high number that exceeded hold-type reports. The main backdrop is a sharp rise in earnings estimates for leading semiconductor stocks. That positive tone is also spreading beyond chips to securities and defense shares. In the market, the wave of target-price increases is being read as a signal reflecting changes in earnings estimates and strength in leading sectors. Source: mk.co.kr