KT Corporation (NYSE:KT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $16.00 target price on the technology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.07% from the stock’s previous close.

According to Zacks, “KT Corporation provides telecommunication services. Its services include mobile telecommunications services, telephone services, fixed-line and VoIP telephone services. The Company also provides interconnection services to other telecommunications companies, broadband Internet access services and other Internet-related services. It also offers information technology and network services, including consulting, designing, building, and maintaining of systems and communication networks. KT Corporation, formerly known as Korea Telecom Corp., is headquartered in Sungnam, South Korea. “

Other analysts have also issued reports about the stock. BidaskClub raised shares of KT Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Nomura raised shares of KT Corporation from a “neutral” rating to a “buy” rating in a research note on Friday, July 28th.

KT Corporation (NYSE KT) opened at 14.15 on Tuesday. The company’s 50 day moving average price is $16.42 and its 200 day moving average price is $16.54. KT Corporation has a 12 month low of $13.43 and a 12 month high of $18.82. The firm has a market capitalization of $6.93 billion, a P/E ratio of 11.01 and a beta of 0.47.

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A number of hedge funds have recently added to or reduced their stakes in KT. Hexavest Inc. purchased a new stake in shares of KT Corporation in the 2nd quarter valued at approximately $112,000. Parallel Advisors LLC lifted its position in shares of KT Corporation by 775.0% in the 1st quarter. Parallel Advisors LLC now owns 7,586 shares of the technology company’s stock valued at $123,000 after acquiring an additional 6,719 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of KT Corporation in the 1st quarter valued at approximately $170,000. Janney Montgomery Scott LLC lifted its position in shares of KT Corporation by 2.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 10,378 shares of the technology company’s stock valued at $173,000 after acquiring an additional 213 shares in the last quarter. Finally, Signaturefd LLC purchased a new stake in shares of KT Corporation in the 1st quarter valued at approximately $205,000. 24.10% of the stock is owned by institutional investors and hedge funds.

KT Corporation Company Profile

KT Corporation is a telecommunications service provider. The Company’s segments include the Customer/Marketing Group, the Finance Business Group and the Others Group. The Customer/Marketing Group segment is engaged in providing various telecommunication services to individual/home/corporate customers and the convergence business.

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