---
title: "Research Alert: CFRA Maintains Buy Opinion On Shares Of Korea Electric Power Corp."
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286290488.md"
description: "CFRA maintains a Buy opinion on Korea Electric Power Corp (KEPCO) and revises its 12-month target price to USD20 from USD26. KEPCO's Q1 2026 revenue and operating profit both grew by 0.8% year-over-year, but fell short of consensus estimates. Despite a decline in electricity sales volume, the average selling price remained stable. KEPCO is managing rising fuel costs through cost-cutting measures, but faces potential challenges from international fuel prices and exchange rates. A shift towards a nuclear-heavy energy mix may improve margins."
datetime: "2026-05-13T15:40:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286290488.md)
  - [en](https://longbridge.com/en/news/286290488.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286290488.md)
---

# Research Alert: CFRA Maintains Buy Opinion On Shares Of Korea Electric Power Corp.

11:40 AM EDT, 05/13/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We revised our 12-month target price to USD20 (from USD26), reflecting a 2026 forward P/E 3.7x, below its five-year average P/E of 4.8x, which is justified in our view by potential fluctuations in fuel costs. KEPCO's Q1 2026 revenue grew 0.8% Y/Y to KRW24.4 trillion, while operating profit was up 0.8% Y/Y to KRW3.78 trillion, but below consensus' estimates. Electricity sales volume declined by 0.9% Y/Y to 139.7 TWh. Still, the average selling price per kWh remained stable at KRW 170.4, matching the level seen at the end of 2025. KEPCO managed to offset rising fuel costs through aggressive internal cost-cutting and emergency management, but it sees a possibility that rising international fuel prices and exchange rates due to the Middle East war will act as a burden in H2 2026. We think there has been a fundamental shift in KEPCO's energy mix towards nuclear-heavy weighting, which may help it to improve margins. Maintain Buy.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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