Goldman's target share price for NTT represents a potential 15% upside.
The underlying reason for endorsing NTT is based on its commanding strength in fiber-to-the-home (known as FTTH).
NTT seems like a rather safe investment given its market leadership in fixed-line and wireless phones, plus its leading market position in FTTH. Also, it shouldn't be hurt by a stronger yen -- in fact, investors in its ADRs would benefit from a stronger yen.
Nippon Telegraph & Telephone (NTT) 1-year chart: