New Street: KT Corp (Buy, TP: USD 24, +72%) INVESTOR CALL with Investor Relations – 20 December 2022
We had a very positive call with KT, with both revenue and cost trends likely to progress well, and the company we think set to improve shareholder remuneration further and continue the process of asset revaluation through outside capital. On 6.8X 2023 P/E, KT probably offers the best risk/reward within the EM Telco space.KT is a provider of telecommunications services in the Republic of Korea (the "ROK", South Korea). Co. provides telephone services, Internet phone services, mobile phone services, Internet services and Internet protocol television services. Its telephone services include local, domestic and international long-distance fixed-line telephone services. Its Internet phone services include voice over Internet protocol services. Its mobile phone services include mobile telecommunication services and third generation mobile phone telecommunication services. Its Internet services include fiber to the home services.
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
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We provide debt research on:
- Pan European Telecom Services and Cable
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