0405 GMT - Posco Holdings is set to post weaker-than-expected 2025 earnings from its steel and battery-material businesses, Nomura analyst Cindy Park writes in a note. Park cuts her net-profit forecast for the South Korean steelmaker by 48% this year. She sees a lukewarm business outlook for Posco's steel and battery-material businesses in 2025 with steel demand expected to rise just 1.2% globally and to fall 1.0% in China. It may take time before Posco's asset restructuring makes a meaningful earnings contribution, she adds. Nomura downgrades its rating on the stock to neutral from buy and cuts its target price by 46% to KRW270,000. Shares are 0.6% lower at KRW240,500. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
February 05, 2025 23:05 ET (04:05 GMT)
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