Goldman Sachs Group Inc. upgraded its call on Chinese stocks to overweight, as it joined a camp of optimists that are touting the positive impact of Beijing’s stimulus blitz.
Gauges tracking the nation’s equities may rise another 15%-20% if authorities deliver on policy measures, strategists including Tim Moe wrote in a note dated Oct. 5. Valuations are still below the historical average, earnings may improve and global investors’ positioning remains light, they added.
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