KT - KT Corporation: Recent Developments Support A Hold Rating

2024-04-04 05:18:09 ET

Summary

• The favorable developments for KT include an increase in investor interest relating to Korean equities and the proposed IPO of the company's fintech associate, K Bank.
• On the flip side, I am concerned about KT's capital allocation moves for 2024 and the outlook for its telecommunications business following a review of news flow and management commentary.
• I retain my Hold rating for the Company after assessing recent developments.

Elevator Pitch

I rate KT Corporation ( KT ) [030200:KS] as a Hold. In my previous article written on January 14, 2024, I shared my thoughts on the expected performance of the company's telecommunications and non-telecommunications businesses for the future....

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