By Saeromi Shin
Nov. 19 (Bloomberg) -- UBS AG cut its 12-month target for South Korea’s Kospi index by 26 percent to 1,250, citing “weak” corporate profits in the third quarter.
The brokerage, which previously had an estimate of 1,700 for the stock gauge, said a recent rally may be “nearing an end,” according to a report sent to clients today.
To contact the reporter on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net.
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