Morgan Stanley upgrades credit rating of South Korea's POSCO.

Morgan Stanley has upgraded POSCO's iron rating to Buy, citing the company's profit and recovery prospects being provided with a more "sustainable" path by recent news of production cuts in the steel industry in relevant countries and anti-dumping measures, which was previously rated at Neutral; while also raising the target price by 46% to 410,000 Korean won. Analysts including Young Suk Shin wrote in a report, "We expect POSCO's annual operating profit from the second half of 2025 to 2026 to achieve a robust recovery, supporting its stock price revaluation." "The worst period for POSCO's steel business may have passed, and the company is expected to become a major beneficiary of the improved regional supply and demand situation and positive price outlook."