SK Telecom downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Stanley Yang downgraded SK Telecom (SKM) to Neutral from Overweight with a price target of KRW 58,000, down from KRW 66,000. The firm’s revised rating and price target reflects the expected negative financial impact and regulatory overhang risk related to SK Telecom’s “serious” data breach issue, says the analyst, who cut 2025 and 2026 parent wireless revenue forecasts by 3% and 5% and EPS forecasts by 10% and 11%, respectively.