HSBC Securities Downgraded This Telecom Stock to Neutral
HSBC Securities downgraded its rating of SK Telecom (NYSE:SKM) from Overweight to Neutral. No price target was given. The shares recently traded at $14.53, up $0.25, or 1.68%, on the day. The shares have traded in a 52-week range of $13.35 to $20.29 and its market capitalization is $10.56 billion. About the company: SK Telecom Co., Ltd., an affiliate of SK Group, offers telecommunications services and products in South Korea. The Company provides mobile phone services under the brand names Speed 011. In addition, SK Telecom and its subsidiaries offer other wireless services including data, paging, and Internet services.
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