April 25, 2024

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[THE INVESTOR] SK Telecom’s operating profit on a consolidated basis will swing upward next year, said Hana Financial Investment on Oct. 31 raising the target price to 400,000 won (US$350.94) from 320,000 won.

Although its third-quarter earnings have been unsatisfactory, investors are already shifting their focus to next year, when its operating profit will rise for the first time in six years. Its subsidiary 11Street is likely to turn to black in 2019 and odds are high that it will reshuffle its governance structure which will boost its corporate value, said analyst Kim Hong-sik.

It will also gain significantly from the early introduction of 5G technology, he added maintaining a “buy” recommendation. 

By Hwang You-mee (glamazon@heraldcorp.com)