UBS downgrades Posco, says positives priced in

UBS analyst Yong-Suk Son downgraded Posco to Neutral from Buy with a KRW 675,000 price target. The positives look largely priced in with the stock up 183% since Q4 of 2022, the analyst tells investors in a research note. Posco’s fundamentals are strong, driven by growth from LiB materials and funded by steel, but the positives are largely priced in now, the analyst tells investors in a research note.