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Investing.com - South Korean tobacco giant KT&G Corporation (KS:033780) received an upgrade from Nomura/Instinet on Friday, with its rating changed from Neutral to Buy.
The investment firm also significantly raised its price target for KT&G to KRW161,000.00 from the previous KRW117,000.00, reflecting increased confidence in the company’s growth trajectory.
KT&G reported second-quarter 2025 earnings with revenue of KRW1.55 trillion, representing an 8.7% year-over-year increase, while operating profit reached KRW350 billion, up 8.6% from the same period last year.
The company’s tobacco business showed particular strength with 10.2% year-over-year revenue growth, driven by increased overseas cigarette sales with improvements in both quantity and average selling price.
KT&G’s real estate segment delivered the strongest performance with a 78.5% year-over-year revenue increase due to rising revenue recognition from major development projects, while the ginseng business declined 16.8% and other minor businesses grew by 5.4%.
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