Posted 1/10/2024, 3:02:00 AM
Bank of America Bullish on Japanese Stocks, Forecasts New Highs on Improving Corporate Profits
- Bank of America predicts the Nikkei 225 stock index will hit a record high in 2024, surpassing its 1989 peak
- The bank forecasts 13% upside for Japanese stocks in 2023 as corporate profits improve
- BofA says the Japanese economy is resilient and becoming more productive
- Warren Buffett made a big bet on Japanese trading firms in 2020 that has tripled to over $17B
- Relative to the S&P 500, Japanese stocks look undervalued trading at a 20% discount