Posco downgraded to Neutral from Buy at Citi

Citi analyst Sean Lee downgraded Posco to Neutral from Buy with a price target of KRW 660,000, up from KRW 433,000. The share price has rallied 63% since July 11, when the company held its second annual “Battery Materials Business Value Day,” notes the firm, which remains positive on its lithium business outlook but expects “limited share price upside from here.”