KT - KT Corporation: Too Early To Turn Bullish

Elevator Pitch

I maintain my Neutral rating on Korean telecommunications service provider KT Corporation (KT) (OTC:KTCNF) [030200:KS].

This is an update of my prior article on KT Corporation published on June 2, 2020. KT Corporation's share price has declined by -4% from KRW24,850 as of June 1, 2020 to KRW23,900 as of August 24, 2020 since my last update. KT Corporation trades at 2.9 times consensus forward FY 2020 EV/EBITDA and 0.42 times P/B, and it offers a consensus forward FY 2020 dividend yield of 4.7%.

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