Adrian Mowat, JP Morgan said the brokerage was upgrading its end-2015 MSCI Emerging Market target to 1,200 from 1,100.
“Price momentum combined with bearish positioning is a powerful technical support. A more dovish Fed provides relief to weaker EM currencies, notably real, ruble & Turkish lira,” he added.
According to him, reform continues in India and Indonesia. “Our bull case for EM from last month's report may be playing out. We see the asset class as a 'Buy',” said Mowat.
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