0047 GMT - Korea Electric Power could gain from additional tariff increases in the coming years, Daiwa Capital analysts Mike Oh and Daeho Son say. They raise their net-profit forecast for the state utility by 38% for 2025 and 34% for 2026, after its 3Q earnings beat. They expect the Korean government to speed up tariff increases, including a 9.7% rise for industrial use of electricity in 4Q. The company could ease its cost burden, with oil prices stabilizing recently and a nuclear power plant to operate from early 2025, they add. Daiwa raises its target price for the stock by 8.7% to 25,000 won and keeps an outperform rating. Shares closed at KRW22,200 on Wednesday. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
November 13, 2024 19:47 ET (00:47 GMT)
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