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Upgrade Alert for KT (KT)

By James Quinn

KT (NYSE:KT) was upgraded from Hold to Buy at HSBC today. The stock closed yesterday at $13.73 on volume of 472,000 shares, above average daily volume of 444,000.

In the past 52 weeks, shares of KT have traded between a low of $10.81 and a high of $14.90 and closed yesterday at $13.73, which is 27% above that low price. The 200-day and 50-day moving averages have moved 0.07% higher and 0.72% higher over the past week, respectively.

KT Corporation provides telecommunication services including local, long distance, and international calling, satellite communication, data transmission, and wireless telephone services in South Korea. The Company also offers network portal and high-speed Internet access services using asymmetric digital subscriber lines (ADSLs).

There is potential upside of 8.8% for shares of KT based on a current price of $13.73 and an average consensus analyst price target of $14.94. KT shares have support at the 50-day moving average (MA) of $12.88 and additional support at the 200-day MA of $12.59.

SmarTrend recommended that subscribers consider buying shares of KT on March 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.51. Since that recommendation, shares of KT have risen 6.4%. We continue to monitor KT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades

Ticker(s): KT