New Street Research - KT Corp (ADR) (KTC) KT Corp (Buy, TP: KRW 70,000, +56%) NDR feedback

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New Street Research

Chris Hoare

EUR 9544.00 For Business Accounts Only

KT Corp (Buy, TP: KRW 70,000, +56%) NDR feedback

We hosted KT management for an NDR in London and the US last week. The company comes across as highly committed to following the government “Value-up” programme, and seems to be becoming much more profit-focused than the past.

25/11/2024 1 EN

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KT Corp (ADR)

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US48268K1016 Berlin Stock Exchange South Korea

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Chris Hoare

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KT Corp (Buy, TP: KRW 70,000, +56%) NDR feedback

KT Corp (Buy, TP: KRW 70,000, +68%) Q3 24 Quick Take: Top line impacted by non-telco weakness, but strong margins lead to profit beat

KT Corp (Buy, TP: KRW 70,000, +59%) New Corporate Value Up Plan Represents a Positive Step Forward

PYPL US (BUY, TP: $100, +12%) SQ US (Neutral, TP $70 - UR) CFPB oversight over non-banks - does it matter? (PYPL/SQ)

TeleColumbus: Q3 24 Quick Take internet strength continuing

1&1 (Neutral, €14, +16%) Previously: Buy, €26. United Internet (Neutral, €21, +30%) Previously: Buy, €28. Valuation cut on lower mobile growth. Downgrade to Neutral

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