Goldman Cuts Topix Forecasts on ‘Unanticipated Weakness’
This article is for subscribers only.
Goldman Sachs Group Inc. lowered its forecasts for Japanese stocks, citing “the market’s unanticipated weakness and limited near-term catalysts.”
The brokerage reduced its three-month target for the Topix index to 1,200 from 1,350, Chief Japan Strategist Kathy Matsui wrote in a note dated March 20. The new forecast is 3.1 percent higher than the gauge’s level of 1,163.63 at the trading break in Tokyo today. Goldman Sach cut its six-month Topix forecast to 1,300 from 1,375, while maintaining its 12-month target at 1,450 on expectations that earnings per share will rise 21 percent in the fiscal year starting April.