KT (NYSE:KT) Upgraded to “Strong-Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of KT (NYSE:KT) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday, Zacks.com reports. Zacks Investment Research currently has $13.00 price target on the technology company’s stock.
According to Zacks, “KT Corporation provides telecommunication services. Its services include mobile telecommunications services, telephone services, fixed-line and VoIP telephone services. The Company also provides interconnection services to other telecommunications companies, broadband Internet access services and other Internet-related services. It also offers information technology and network services, including consulting, designing, building, and maintaining of systems and communication networks. KT Corporation, formerly known as Korea Telecom Corp., is headquartered in Sungnam, South Korea. “
A number of other analysts also recently issued reports on KT. New Street Research raised KT from a neutral rating to a buy rating and set a $14.10 price objective on the stock in a research note on Friday, October 11th. Macquarie downgraded KT from an outperform rating to a neutral rating in a research note on Monday, October 7th. Finally, ValuEngine raised KT from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $13.55.
A number of large investors have recently added to or reduced their stakes in the business. Carroll Financial Associates Inc. boosted its holdings in shares of KT by 89.4% in the 2nd quarter. Carroll Financial Associates Inc. now owns 2,091 shares of the technology company’s stock worth $25,000 after purchasing an additional 987 shares during the period. Capital Fund Management S.A. boosted its holdings in shares of KT by 5.0% in the 2nd quarter. Capital Fund Management S.A. now owns 27,500 shares of the technology company’s stock worth $340,000 after purchasing an additional 1,300 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of KT by 42.8% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,835 shares of the technology company’s stock worth $85,000 after purchasing an additional 2,048 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of KT by 11.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 28,579 shares of the technology company’s stock worth $354,000 after purchasing an additional 2,919 shares during the period. Finally, Quantamental Technologies LLC boosted its holdings in shares of KT by 31.8% in the 2nd quarter. Quantamental Technologies LLC now owns 14,099 shares of the technology company’s stock worth $174,000 after purchasing an additional 3,399 shares during the period. 34.82% of the stock is currently owned by institutional investors and hedge funds.
KT Corporation provides telecommunications services in Korea and internationally. The company offers local, domestic long-distance, and international long-distance fixed-line and voice over Internet protocol fixed-line telephone services, as well as interconnection services; broadband Internet access service and other Internet-related services, including IPTV services; and data communication services, such as leased line and broadband Internet connection services to institutional customers.
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