POSCO (PKX) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of POSCO (NYSE:PKX) from a hold rating to a buy rating in a research report released on Wednesday. They currently have $82.00 price target on the basic materials company’s stock.

According to Zacks, “Year to date, POSCO's American Depository Receipts (ADR) outperformed the industry. Over the long term, we believe the company stands to benefit from its regional diversifications, superior product portfolio and initiatives to dispose non-core assets. On a consolidated basis, the company aims to generate revenues of approximately KRW 59.3 trillion in 2017, higher than KRW 54.8 trillion expected earlier. Finished product sales are estimated to be roughly 35.1 million tons while crude steel production is projected to be nearly 37 million tons. Also, the company plans to spend KRW 3.5 trillion for strengthening its businesses.”

A number of other analysts also recently issued reports on PKX. UBS AG raised POSCO from a neutral rating to a buy rating in a research report on Thursday, July 6th. BidaskClub downgraded POSCO from a strong-buy rating to a buy rating in a research report on Saturday, August 12th. Standpoint Research downgraded POSCO from a buy rating to a hold rating in a research report on Monday, August 7th. Finally, CLSA raised POSCO from an underperform rating to an outperform rating in a research report on Thursday, July 20th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $82.00.

POSCO (NYSE PKX) traded up 1.61% on Wednesday, reaching $75.03. 254,192 shares of the company’s stock traded hands. POSCO has a 52 week low of $50.37 and a 52 week high of $77.76. The firm has a 50-day moving average price of $71.71 and a 200-day moving average price of $66.51. The stock has a market capitalization of $24.01 billion, a price-to-earnings ratio of 13.34 and a beta of 1.11.

COPYRIGHT VIOLATION WARNING: This news story was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this news story can be accessed at https://ledgergazette.com/2017/10/19/posco-pkx-upgraded-to-buy-by-zacks-investment-research.html.

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. purchased a new position in POSCO during the 1st quarter valued at about $229,000. Strategic Global Advisors LLC boosted its holdings in POSCO by 0.3% during the 2nd quarter. Strategic Global Advisors LLC now owns 4,306 shares of the basic materials company’s stock valued at $270,000 after acquiring an additional 15 shares during the period. Marshall Wace North America L.P. purchased a new position in POSCO during the 2nd quarter valued at about $293,000. Eqis Capital Management Inc. purchased a new position in POSCO during the 3rd quarter valued at about $347,000. Finally, OxFORD Asset Management LLP purchased a new position in POSCO during the 2nd quarter valued at about $348,000. Institutional investors own 5.14% of the company’s stock.

POSCO Company Profile

POSCO is a Korea-based company principally engaged in the manufacture and distribution of steel products. The Company operates in four segments: steel, trading, construction, and others. The steel segment includes production of steel products and sale of such products. The trading segment consist

According to Zacks, “Year to date, POSCO's American Depository Receipts (ADR) outperformed the industry. Over the long term, we believe the company stands to benefit from its regional diversifications, superior product portfolio and initiatives to dispose non-core assets. On a consolidated basis, the company aims to generate revenues of approximately KRW 59.3 trillion in 2017, higher than KRW 54.8 trillion expected earlier. Finished product sales are estimated to be roughly 35.1 million tons while crude steel production is projected to be nearly 37 million tons. Also, the company plans to spend KRW 3.5 trillion for strengthening its businesses.”

A number of other analysts also recently issued reports on PKX. UBS AG raised POSCO from a neutral rating to a buy rating in a research report on Thursday, July 6th. BidaskClub downgraded POSCO from a strong-buy rating to a buy rating in a research report on Saturday, August 12th. Standpoint Research downgraded POSCO from a buy rating to a hold rating in a research report on Monday, August 7th. Finally, CLSA raised POSCO from an underperform rating to an outperform rating in a research report on Thursday, July 20th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $82.00.

POSCO (NYSE PKX) traded up 1.61% on Wednesday, reaching $75.03. 254,192 shares of the company’s stock traded hands. POSCO has a 52 week low of $50.37 and a 52 week high of $77.76. The firm has a 50-day moving average price of $71.71 and a 200-day moving average price of $66.51. The stock has a market capitalization of $24.01 billion, a price-to-earnings ratio of 13.34 and a beta of 1.11.

COPYRIGHT VIOLATION WARNING: This news story was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The correct version of this news story can be accessed at https://ledgergazette.com/2017/10/19/posco-pkx-upgraded-to-buy-by-zacks-investment-research.html.

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. purchased a new position in POSCO during the 1st quarter valued at about $229,000. Strategic Global Advisors LLC boosted its holdings in POSCO by 0.3% during the 2nd quarter. Strategic Global Advisors LLC now owns 4,306 shares of the basic materials company’s stock valued at $270,000 after acquiring an additional 15 shares during the period. Marshall Wace North America L.P. purchased a new position in POSCO during the 2nd quarter valued at about $293,000. Eqis Capital Management Inc. purchased a new position in POSCO during the 3rd quarter valued at about $347,000. Finally, OxFORD Asset Management LLP purchased a new position in POSCO during the 2nd quarter valued at about $348,000. Institutional investors own 5.14% of the company’s stock.

POSCO Company Profile

POSCO is a Korea-based company principally engaged in the manufacture and distribution of steel products. The Company operates in four segments: steel, trading, construction, and others. The steel segment includes production of steel products and sale of such products. The trading segment consists of global trading activities of POSCO Daewoo Corporation, exporting and importing a range of steel products that are both obtained from and supplied to it, as well as between other suppliers and purchasers in Korea and overseas.

Analyst Recommendations for POSCO (NYSE:PKX)

Receive News & Ratings for POSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for POSCO and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply