SK Telecom Co., Ltd. (NYSE:SKM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, August 1st. The firm presently has a $32.00 price target on the Wireless communications provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 26.28% from the company’s current price.
According to Zacks, “SK Telecom Co. is the world’s first commercial CDMA digital cellular service. As of September 30, 1997, they have provided the highest quality service for more than 4 million cellular customers which includes 2.3 million digital cellular customers, and 7.1 million paging customers. “
SKM has been the topic of a number of other research reports. BidaskClub raised shares of SK Telecom Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) raised shares of SK Telecom Co. from a “neutral” rating to a “buy” rating in a report on Friday, July 21st. Credit Suisse Group downgraded shares of SK Telecom Co. from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 30th. Finally, Citigroup Inc. reissued a “neutral” rating on shares of SK Telecom Co. in a report on Monday, April 24th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $32.00.
SK Telecom Co. (SKM) opened at 25.34 on Tuesday. SK Telecom Co. has a 1-year low of $20.44 and a 1-year high of $28.13. The firm has a 50-day moving average of $26.41 and a 200-day moving average of $24.54. The stock has a market capitalization of $16.34 billion, a PE ratio of 9.12 and a beta of 0.35.
A number of institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. increased its position in shares of SK Telecom Co. by 68.6% in the second quarter. Bessemer Group Inc. now owns 4,536 shares of the Wireless communications provider’s stock valued at $116,000 after buying an additional 1,845 shares in the last quarter. Rational Advisors LLC bought a new stake in SK Telecom Co. during the second quarter valued at about $139,000. Cypress Capital Management LLC WY bought a new stake in SK Telecom Co. during the second quarter valued at about $145,000. Picton Mahoney Asset Management bought a new stake in SK Telecom Co. during the second quarter valued at about $194,000. Finally, M&T Bank Corp bought a new stake in SK Telecom Co. during the second quarter valued at about $206,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.
SK Telecom Co. Company Profile
SK Telecom Co, Ltd. provides wireless telecommunications in Korea. The Company is engaged in the commercial development and implementation of wireless and fixed-line technologies and services, as well as develop its platforms, including Internet of things (IoT) solutions, lifestyle enhancement and advanced media.
Get a free copy of the Zacks research report on SK Telecom Co. (SKM)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SK Telecom Co. Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SK Telecom Co. Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.
