Korea Electric Power stock: Daishin cuts target to KRW 40,000

Published on 10/30/2026 at 00:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Daishin Securities kept its Buy rating while lowering its view on Korea Electric Power. Higher fuel costs are clouding the earnings outlook.

Analyst outlook and market context

Daishin Securities maintained its Buy rating despite a materially weaker earnings outlook.
Higher fuel costs and lower industrial electricity rates are expected to weigh on profitability.
Daishin said oil-price stabilization is a condition for a sustained share-price recovery.

KEP, US5006311063, Illustration mit AI erstellt.

Korea Electric Power stock is facing a lower analyst valuation after Daishin Securities reduced its target price from KRW 54,000 to KRW 40,000 on October 20, 2026. The brokerage kept its Buy rating but cited higher fuel costs, weaker profitability after industrial electricity-rate cuts and a lower valuation for the company's overseas nuclear construction business, according to Seoul Economic Daily.

Fuel costs pressure the forecast

Daishin estimated third-quarter revenue at KRW 26.957 trillion, down 2.2 percent year over year, and operating profit at KRW 3.094 trillion, down 45.3 percent. The brokerage still expected operating profit to exceed consensus of about KRW 2.36 trillion, but said the year-over-year decline would remain substantial.

Third-quarter fuel costs were projected at KRW 7.29 trillion, an increase of 32.5 percent from a year earlier. Daishin also expected the average electricity selling price to decline 1.4 percent. It said higher crude prices can feed into liquefied natural gas import costs with a typical lag of four to five months.

Valuation depends on stabilization

Daishin said the stock traded at about 0.35 times forward book value, suggesting that much of the negative outlook was already reflected in the valuation. Analyst Huh Min-ho said a sustained recovery would require oil prices to stabilize at lower levels and expectations to improve for earnings recovery from the third quarter of 2027.

The Lang & Schwarz quote for the ADR was EUR 9.35 on October 29, 2026, at 22:59:25 Berlin time. The previous quoted value was also EUR 9.35, so the displayed change was 0.00 percent.

For investors seeking the latest quoted value, the real-time quote of Korea Electric Power stock provides the current snapshot.