[Featured Stock] LG Innotek Rises 4% on Expectations of Record Q4 Performance
[Asia Economy Reporter Song Hwajeong] LG Innotek is showing strength amid forecasts that it will record its highest-ever performance in the fourth quarter of this year.
As of 9:32 AM on the 8th, LG Innotek was traded at 198,500 KRW, up 8,000 KRW (4.20%) from the previous day.
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Kiwoom Securities evaluated that LG Innotek's operating profit in the fourth quarter is expected to reach an all-time high, but the stock price is currently excessively undervalued. Kim Jisan, a researcher at Kiwoom Securities, stated, "The fourth quarter, which fully reflects the effect of the new iPhone, will see operating profit significantly improve to 433.8 billion KRW, a 27% increase compared to the same period last year, and this also appears to have a large gap from the market consensus (338.2 billion KRW)." He added, "Contrary to the upward trend in earnings estimates, the stock price has undergone a correction, causing the price-to-earnings ratio (PER) based on this year to fall to 4.8 times and the enterprise value/EBITDA (EV/EBITDA) to drop to 2.8 times, which is judged to be excessively undervalued."
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