Korea Electric Power Corp. is experiencing a sharp decline in its stock price following the release of its third-quarter results, which fell significantly short of market expectations. This disappointing performance has led to a downturn in investor sentiment, compounded by downward adjustments in target prices from securities firms.
As of 1:44 PM on November 13, Korea Electric Power's shares were trading at 27,500 won, down 3,150 won (10.28%) from the previous trading day. The stock opened at 28,400 won and at one point dropped to 27,400 won during the session.
The primary reason for the stock's decline is attributed to the company's third-quarter operating profit, which was reported at 1.6441 trillion won, a 70.9% decrease compared to the same period last year. The rising fuel costs, exacerbated by the ongoing conflict in the Middle East, have significantly impacted the company's financial performance.
In light of the lowered expectations, several securities firms have revised their target prices for Korea Electric Power. DS Investment & Securities has adjusted its target price from 33,000 won to 31,000 won, while NH Investment & Securities lowered its target from 55,000 won to 44,000 won. Samsung Securities also reduced its target price from 52,000 won to 43,000 won.
Additionally, Yuanta Securities and iM Securities have set their target prices at 43,000 won and 40,000 won, respectively. IBK Investment & Securities and SK Securities have also lowered their targets to 39,000 won and 30,000 won, respectively.
* This article has been translated by AI.
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