0326 GMT - A hacking incident at SK Telecom prompts Nomura to cut its price target for the stock. The cybersecurity breach, detected in April, brings the South Korean wireless carrier material downside risks to its subscriber growth, profit margins and shareholder returns, Nomura analysts Angela Hong and Won Kang write in a note. The company could see the number of its wireless subscribers fall by 240,000, or 0.7%, this year and pay a penalty of KRW50 billion-KRW100 billion, they reckon. They trim their dividend-per-share estimate for SK Telecom to KRW3,540 from KRW3,640. Nomura cuts the stock's target price by 8.9% to KRW51,000 and keeps its neutral rating. Shares are 1.0% lower at KRW51,700. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
May 12, 2025 23:26 ET (03:26 GMT)
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