UPDATE: JP Morgan Upgrades SK Telecom to Overweight; Top Pick Among Korea Telcos

by Benzinga Staff
September 27, 2012 2:12 PM | 20 seconds read | Make a Comment

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JP Morgan raised its rating on SK Telecom (NYSE: SKM) from Neutral to Overweight. JP Morgan commented, "While multiples have declined due to an unfavorable operating environment, we see limited downside risk given sound earnings improvement. Among the three Korea telcos, we like SKT the most due to its healthy cash flow, solid market dominance, and potential non-telco business development."SK Telecom closed at $14.45 on Wednesday.

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Posted In: Analyst ColorUpgradesIntraday UpdateAnalyst RatingsJP Morgan

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