[Featured Stock] Lotte Chemical Precision, Earnings Improvement Expectations... Surges 12%
[Asia Economy Reporter Park Jihwan] Lotte Fine Chemical is showing a surge of over 12% amid expectations of improved performance due to the inclusion of Solus Advanced Materials.
As of 10:28 AM on the 16th, Lotte Fine Chemical is trading at 68,200 KRW, up 7,700 KRW (12.73%) from the previous trading day.
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On the same day, Kiwoom Securities raised the target price for Lotte Fine Chemical by 37% to 100,000 KRW, stating that undervaluation factors have been resolved. Researcher Lee Dongwook of Kiwoom Securities said, "We acquired a 96.63% stake in the private equity partnership that is the largest shareholder of Solus Advanced Materials, making it a consolidated subsidiary," and added, "Along with this, additional price rebounds in chemical products such as caustic soda are expected to increase operating profit this year."
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