Goldman Raises Japan Stock Targets, Citing Corporate Reforms
- Equities may resume climb after temporary lull on technicals
- Investors should overweight electrical machinery, IT services
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Goldman Sachs Group Inc. lifted its targets for Japanese stocks after the market soared this year amid expectations for corporate reforms and solid fundamentals relative to overseas markets.
The Topix may reach 2,500 in 12 months, analysts including Kazunori Tatebe wrote in a June 21 report, raising their forecast from 2,200. That implies an 8.9% upside from Wednesday’s close. The analyst set the previous target on Nov. 20, and the gauge has risen past the level since.