Zacks Investment Research upgraded shares of KT Corporation (NYSE:KT) from a hold rating to a buy rating in a research note issued to investors on Monday. They currently have $18.00 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. “

Several other research firms have also issued reports on KT. Nomura raised shares of KT Corporation from a neutral rating to a buy rating in a research report on Friday, July 28th. BidaskClub raised shares of KT Corporation from a sell rating to a hold rating in a research report on Thursday, July 6th.

KT Corporation (NYSE KT) opened at 15.27 on Monday. The firm has a 50-day moving average price of $17.26 and a 200-day moving average price of $16.62. KT Corporation has a 52 week low of $13.43 and a 52 week high of $18.82. The firm has a market capitalization of $7.48 billion, a P/E ratio of 12.07 and a beta of 0.47.

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A number of institutional investors have recently modified their holdings of KT. Hexavest Inc. bought a new stake in KT Corporation during the second quarter worth about $112,000. Parallel Advisors LLC grew its stake in KT Corporation by 775.0% during the first quarter. Parallel Advisors LLC now owns 7,586 shares of the technology company’s stock worth $123,000 after buying an additional 6,719 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in KT Corporation during the first quarter worth about $170,000. Janney Montgomery Scott LLC bought a new stake in KT Corporation during the first quarter worth about $171,000. Finally, Signaturefd LLC bought a new stake in KT Corporation during the first quarter worth about $205,000. 24.10% of the stock is currently owned by hedge funds and other institutional investors.

KT Corporation Company Profile

KT Corporation is a telecommunications service provider. The Company’s segments include the Customer/Marketing Group, the Finance Business Group and the Others Group. The Customer/Marketing Group segment is engaged in providing various telecommunication services to individual/home/corporate customers and the convergence business.

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