In a report released yesterday, Sun Jung Lee from Bank of America Securities reiterated a Buy rating on KT (KT – Research Report), with a price target of $22.38.
Sun Jung Lee’s rating is based on KT’s anticipated financial performance and strategic initiatives. The company is expected to report operating profits in line with market consensus for the first quarter, with significant gains from a real estate project being recognized in the first half of the year. Additionally, KT’s dividend per share has increased, indicating confidence in future earnings growth.
Moreover, Sun Jung Lee highlights KT’s efforts to streamline low-margin businesses and the promising growth in artificial intelligence and data center operations. These factors, combined with effective cost control in their core telecommunications business and attractive shareholder returns, support the Buy rating. The price objective for KT has been raised, reflecting these positive developments and the company’s potential for continued growth.
According to TipRanks, Jung Lee is a 3-star analyst with an average return of 11.8% and a 60.00% success rate.