POSCO (PKX) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of POSCO (NYSE:PKX) have been assigned an average rating of “Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $82.00.
A number of equities research analysts recently weighed in on PKX shares. BidaskClub downgraded POSCO from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. Deutsche Bank raised POSCO from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Zacks Investment Research raised POSCO from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Wednesday, October 18th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PKX. Capital Growth Management LP acquired a new stake in POSCO during the third quarter valued at approximately $29,148,000. Assetmark Inc. raised its stake in shares of POSCO by 164,689.9% in the third quarter. Assetmark Inc. now owns 163,142 shares of the basic materials company’s stock valued at $11,322,000 after acquiring an additional 163,043 shares during the last quarter. LMR Partners LLP raised its stake in shares of POSCO by 57.0% in the second quarter. LMR Partners LLP now owns 387,825 shares of the basic materials company’s stock valued at $24,321,000 after acquiring an additional 140,787 shares during the last quarter. Athos Capital Ltd bought a new position in shares of POSCO in the second quarter valued at approximately $8,463,000. Finally, Northern Trust Corp raised its stake in shares of POSCO by 12.2% in the second quarter. Northern Trust Corp now owns 643,169 shares of the basic materials company’s stock valued at $40,256,000 after acquiring an additional 69,983 shares during the last quarter. 5.39% of the stock is currently owned by institutional investors.
POSCO Company Profile
POSCO is a Korea-based company principally engaged in the manufacture and distribution of steel products. The Company operates in four segments: steel, trading, construction, and others. The steel segment includes production of steel products and sale of such products. The trading segment consists of global trading activities of POSCO Daewoo Corporation, exporting and importing a range of steel products that are both obtained from and supplied to it, as well as between other suppliers and purchasers in Korea and overseas.
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