[Featured stock] Korea Electric Power Corporation, down 9% in early trading due to 3rd quarter earnings shock

Korea Electric Power Corporation (KEPCO) [015760] is falling more than 9% in the early trading on the 13th due to poor performance in the third quarter.

As of 9:03 am on this day, KEPCO is trading at 27,850 won in the stock market, down 9.14% from the previous price.

The stock price began trading at 28,400 won, down 7.34%, and the decline increased.

This appears to be due to the fact that many securities companies lowered their target stock prices on this day after KEPCO announced poor performance for the third quarter the previous day.

KEPCO's operating profit in the third quarter was KRW 1.6441 trillion, a 70.9% decrease compared to the same period last year. This is 37.9% lower than the market forecast (KRW 2.6486 trillion).

It appears that the impact of the increase in fuel prices due to the war in the Middle East was reflected in the performance in earnest from the third quarter with a lag.

DS Investment & Securities lowered Korea Electric Power Corporation's operating profit forecast for this year and next year and lowered its target stock price from 33,000 won to 31,000 won.

NH Investment & Securities [005940] (55,000 won → 44,000 won), Samsung Securities [016360] (52,000 won → 43,000 won), and Yuanta Securities (47,000 won → 43,000 won) also lowered their target stock prices.