Nifty 1-year target at 8200, valuations more reasonable: Goldman

Timothy Moe of Goldman Sachs says valuations are mid-cycle and positioning looks more reasonable post the recent sell-off.

He expects Indian equities to offer low-teen USD total returns in 12 months largely driven by earnings.

According to him, revised 12-month Nifty target is 8,200 which implies 11 percent price return. Even with lower earnings expectations, India stands out as he expects overall regional EPS growth of just 1 percent and larger forex weakness in most parts of the region, Moe says.