Glovis Cut to ‘Neutral’ From ‘Buy’ at UBS After Stock Rally

Glovis Co., a logistics unit of Hyundai Motor Group, was cut to “neutral” from “buy” at UBS AG, which said the share price has “run a bit ahead of fundamentals.”

The brokerage raised its share-price estimate to 175,000 won from 150,000 won, according to a report by D.S. Kim.

To contact the reporter on this story: Shiyin Chen in Singapore at schen37@bloomberg.net

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net

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