Morgan Stanley analyst Young Suk Shin downgraded Posco to Equal Weight from Overweight with a price target of KRW 390,000, up from KRW 380,000. With the stock having rallied 85% from the lows seen in September 2022, the firm believes the "optionalities" of China’s reopening and the company’s lithium business potential are mostly reflected in the share price and recommends investors lock in profits at current levels.
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