0057 GMT - Posco Holdings could post below-consensus 4Q earnings on narrower profit margins, Daishin Securities analyst Lee Tae-hwan writes in a note. The South Korean steelmaker may have sequentially recovered in sales, which likely topped 8.4 million metric tons of steel in volume for the October-December period. However, its profit margins may have weakened due to lower steel-product prices, Lee says. He estimates Posco's 4Q operating profit at KRW474 billion, well below the market consensus forecast of KRW698 billion. Daishin cuts its target price for the stock by 13% to KRW410,000 and keeps a buy rating. Shares are 1.0% lower at KRW258,500. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
January 09, 2025 19:57 ET (00:57 GMT)
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