With the benchmark Korea Composite Stock Price Index(KOSPI) continuously posting new highs after surpassing the two-thousand-300 threshold, foreign investment banks are raising their target mark for KOSPI and South Korea’s rating.
 
According to the Korea Center for International Finance, five out of seven foreign investment banks have set their rating to “overweight” for South Korea. Those five are UBS, Nomura, Citi, Credit Suisse and Bank of America Merrill Lynch.
 
JP Morgan and Goldman Sachs upgraded their rating for South Korea from “underweight” to “neutral” since the launch of the new South Korean government.
 
The investment banks also raised their target mark for KOSPI.
 
JP Morgan set its target index at two-thousand-250 while UBS and Goldman Sachs raised their index from two-thousand-200 to two-thousand-450. Citi also marked up the target index from between one-thousand-900 and two-thousand-200 to between two-thousand-200 and two-thousand-600.
 
Nomura raised its KOSPI target index from two-thousand-250 to two-thousand-600, projecting that in the medium term the KOSPI could reach three-thousand.