SK Telecom (SKM) Upgraded by ValuEngine to Strong-Buy

SK Telecom (NYSE:SKM) was upgraded by investment analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report released on Tuesday.

A number of other equities research analysts have also recently issued reports on SKM. Zacks Investment Research upgraded shares of SK Telecom from a “hold” rating to a “strong-buy” rating and set a $30.00 price target for the company in a report on Friday. CLSA cut shares of SK Telecom from an “outperform” rating to an “underperform” rating in a report on Wednesday, January 24th. Morgan Stanley restated an “equal weight” rating on shares of SK Telecom in a report on Thursday, January 11th. Finally, Citigroup upgraded shares of SK Telecom from a “neutral” rating to a “buy” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. SK Telecom has a consensus rating of “Buy” and an average price target of $30.00.

SK Telecom (NYSE:SKM) traded down $0.05 during mid-day trading on Tuesday, reaching $24.50. 391,270 shares of the company’s stock were exchanged, compared to its average volume of 517,656. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.90. SK Telecom has a one year low of $21.78 and a one year high of $28.97. The company has a market capitalization of $15,456.45, a PE ratio of 7.12 and a beta of 0.34.

A number of hedge funds have recently added to or reduced their stakes in SKM. Macquarie Group Ltd. boosted its holdings in SK Telecom by 12.6% during the third quarter. Macquarie Group Ltd. now owns 8,733,747 shares of the Wireless communications provider’s stock valued at $214,761,000 after acquiring an additional 975,732 shares during the period. Assetmark Inc. bought a new stake in shares of SK Telecom in the third quarter valued at about $12,985,000. Russell Investments Group Ltd. lifted its stake in shares of SK Telecom by 147.2% in the third quarter. Russell Investments Group Ltd. now owns 799,408 shares of the Wireless communications provider’s stock valued at $19,657,000 after buying an additional 476,072 shares during the period. LMR Partners LLP bought a new stake in shares of SK Telecom in the third quarter valued at about $7,830,000. Finally, Reilly Financial Advisors LLC bought a new stake in shares of SK Telecom in the fourth quarter valued at about $6,608,000. Institutional investors own 11.32% of the company’s stock.

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SK Telecom Company Profile

SK Telecom Co, Ltd. provides wireless telecommunications in Korea. The Company is engaged in the commercial development and implementation of wireless and fixed-line technologies and services, as well as develop its platforms, including Internet of things (IoT) solutions, lifestyle enhancement and advanced media.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SK Telecom (NYSE:SKM)

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