DAISHIN SECURITIES assessed on the 11th that KT's stock price momentum has not subsided. The investment opinion remains 'buy' and the target price has been raised by 10% to 74,000 won. KT's closing price on the previous transaction day was 56,200 won.
Earlier, KT recorded a closing price of 57,700 won on the 4th. This is the highest price since the privatization of KT.
Kim Hwae-jae, a researcher at DAISHIN SECURITIES, noted, "KT has achieved positive revenue annually since 2021, outperforming the index in 2021, 2022, and 2024," adding, "This year, despite a strong rise in the KOSPI index, the stock price has risen alongside solid performance and shareholder returns."
He further explained that the current stock price has a price-to-earnings ratio (PER) of 8 times compared to earnings per share (EPS), and even excluding a one-time real estate profit of 500 billion won, the PER is only at a level of 10 times, while the price-to-book ratio (PBR) is 0.8 times.
He indicated that KT's real estate assets should also be closely watched. Researcher Kim stated, "KT's tangible assets, KT's investment properties, and KT Estate's investment properties have a book value of 4.4 trillion won as of the end of last year, but when applying the publicly announced land prices, the real estate book value rises to 14.8 trillion won. Therefore, the reflected earnings per share (BPS) is only 110,000 won, and the PBR is 0.4 times, suggesting that a fair stock price of 110,000 won is possible if some real estate is revaluated."
He analyzed that total shareholder returns are increasing in proportion to improving earnings, and the momentum for rising stock prices has also not subsided.