Samsung SDI Nears Entry into US Auto Battery Market... Target Price 900,000 KRW

[Asia Economy Reporter Park Soyeon] Kiwoom Securities has maintained the target price of Samsung SDI at 900,000 KRW and upgraded its investment opinion to 'Buy' following the recent stock price adjustment.

According to FN Guide on the 4th, Kiwoom Securities analyst Kim Jisan stated in a recent report, "With the profit expansion of automotive batteries, the company's overall operating profit is expected to continue its upward trend."

Analyst Kim forecasted, "As a key point to watch, the entry of automotive batteries into the US market is imminent, the cylindrical batteries are likely to maintain a boom trend until next year, and the sales proportion for EVs will continue to expand."

He added, "In OLED materials, besides the dominant P-dopant and Greenhost, product diversification is accelerating, expanding into new areas such as QD ink, highlighting growth potential."

Operating profit for the third quarter is expected to reach 354.1 billion KRW, meeting the market consensus of 349.4 billion KRW. The fourth quarter operating profit is forecasted at 428.2 billion KRW. Analyst Kim Jisan explained, "Small batteries and electronic materials are performing better than expected and will benefit from favorable exchange rate conditions."

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