KT Corp. upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs analyst Eric Cha upgraded KT Corp. (KT) to Buy from Neutral with a price target of KRW 59,000, up from KRW 49,000, implying 24% upside. The firm says KT stands out from competitors as it displays “strong” improvement in shareholder returns on the back of its non-telecom assets. This will continue to re-rate the stock, the analyst tells investors in a research note. Goldman is positive on KT’s “strong execution on improving shareholder returns through optimizing its non-telco assets.”