Standpoint Research Starts Posco (PKX) at Accumulate

Standpoint Research initiates coverage on Posco (NYSE: PKX) with a Accumulate rating and $140 2012-2013 price target.

The firm states, "This [PKX] recommendation is intended for those who are holding a low-beta portfolio and/or looking to reduce/eliminate an under-weight in Energy & Materials, but do not want to chase oil and metal names trading at or near the tops of their respective trading ranges. PKX is a high-beta name and is not recommended for those already overweight in the sector and/or with a high-beta portfolio."

For more ratings news on Posco click here and for the rating history of Posco click here.

Shares of Posco closed at $102.14 yesterday.

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