One broker's target price fell 75 percent overnight. It was a stock split, not a downgrade.
Of 53 target-price revisions filed on September 21, one showed a 75% overnight cut. The company's shares had been split 4-for-1 five weeks earlier — the number was arithmetic, not a bearish call.
AI-assisted, human-reviewed sourcing. Figures are pulled programmatically from the official sources listed at the end of this article and checked by an editor before publication.
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Fifty-three Korean stocks got a revised broker target price on September 21, 2026 — 33 raised, 20 cut. One of the cuts was not a cut at all.
LS Securities’ new report on NICE Information & Telecommunication (KOSDAQ: 036800) lists a target price of 10,000 won against a previous target of 40,000 won — a 75.0% reduction, by far the steepest move in today’s batch. Read on its own, that looks like the most bearish call of the day.
What we found before publishing it as one
We check DART’s own disclosure list for any stock carrying an unusually large target-price move before we count it. For this company, the list showed two filings from Korea Exchange itself:
| Date | Filing |
|---|---|
| 2026-07-24 | Trading halt — stock split (“주식분할”) |
| 2026-08-14 | Trading resumed — split-adjusted shares relisted (“액면분할 주권 변경상장”) |
The company’s shares had been split and relisted five weeks before this report. Forty thousand divided by ten thousand is exactly four, consistent with a 4-for-1 split — though the filing titles alone do not state the ratio, and we did not open the underlying disclosure document to confirm it directly.
What this means for the count
Once the split explains the arithmetic, the honest count of today’s target-price revisions is 52, not 53: 33 raised, 19 cut. We are not saying LS Securities made an error — a research note can simply carry forward a pre-split reference price without it being a mistake in the note itself. The problem, if there is one, sits in any dataset (including our own, before this check) that compares a “previous target” to a “new target” without asking whether the stock underneath moved its own decimal point in between.
What we did not check
- Whether any of the other 52 revisions involve a similar corporate action (splits, rights issues, reverse splits) we have not screened for individually.
- The investment merit of any of today’s 33 upgrades or 19 remaining downgrades.
- The precise stock-split ratio as filed — we inferred 4-for-1 from the two prices, not from the filing text.
This is not investment advice. Figures are drawn from published broker research summaries and official disclosure filings, and are presented for data-quality reporting, not as a trading signal.
Data & Verification Notes
- Data as of
- Sources
- Hankyung Consensus — Daily broker research report list (collect-seoulmarkets-hankyung-consensus.mjs)
- Financial Services Commission (Republic of Korea) / DART — Corporate Disclosure Information Open API — filing list by date
- Cross-checks
- 53 of 578 broker reports filed against Korean stocks on 2026-09-21 carried both a new target price and a prior one different from it: 33 raised, 20 cut, before we excluded the case below.
- One of those 20 cuts was LS Securities on NICE Information & Telecommunication (KOSDAQ: 036800): previous target 40,000 won, new target 10,000 won, a 75.0% cut in one filing.
- DART's own disclosure list for this company shows trading was halted on 2026-07-24 for a stock split ('주식분할') and the split-adjusted shares resumed trading on 2026-08-14 ('액면분할 주권 변경상장') — five weeks before this report. The exact ratio is not stated in the filing titles themselves, but 40,000 divided by 10,000 is exactly 4, consistent with a 4-for-1 split.
- Excluded figures
- NICE Information & Telecommunication from every count in this article after the first crossCheck — once the split explains the number, treating it as a bearish call would be wrong.
- The other 52 revisions' accuracy or investment merit — this article is about one data-hygiene catch, not a scorecard of today's calls.
- The exact stock-split ratio as declared in the original filing text — we did not open the underlying disclosure document, and we compute 4-for-1 only from the arithmetic of the two prices.
- Instruments
- 036800.KQ
The full dataset behind these figures — every listed company, every row — is available to license. SeoulMarkets data for licence →
Not investment advice. SMarkets publishes data journalism for general information only. Nothing here is investment advice, a recommendation, or an offer to buy or sell any security — any investment you make is at your own risk and responsibility. Figures are derived from official public data sources and may be revised by the issuing agency. Verify independently before acting.
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