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Fly News Breaks for November 29, 2019
KEP
Nov 29, 2019 | 07:12 EDT
BofA/Merrill analyst Jay Yoo downgraded Korea Electric Power to Neutral from Buy with a price target of KRW 28,000, down from KRW 34,000. The analyst sees additional costs for the company from the upcoming winter season coal plant utilization cut by the government with no plan for cost recovery. This could drag down consensus estimates for Q4 and Q1, Yoo tells investors in a research note.
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