[Click eStock] "Samsung SDI Target Price 950,000 Won... Gen5 Mass Production, Positive Outlook for US Subsidiary"

[Asia Economy Reporter Park So-yeon] Kiwoom Securities has set a target price of 950,000 KRW for Samsung SDI and issued a buy rating.

According to FN Guide on the 21st, Kiwoom Securities recently evaluated in a report that the mass production of the high-capacity, low-cost Gen5 battery and entry into the U.S. market in Samsung SDI's automotive battery division are positive factors.

Samsung SDI decided to establish a joint venture in the U.S. with the American automaker Stellantis, laying the foundation to lead the U.S. market. The company plans to actively expand production of cylindrical batteries while diversifying its EV customer base. In display materials, Samsung SDI is responding to the emergence of the QD-OLED market through new products such as QD ink.

Kiwoom Securities estimated Samsung SDI's operating profit for the fourth quarter at 419.3 billion KRW, which is 70% higher compared to the same period last year. Although some sales disruptions continue in the automotive battery segment, performance improvement is expected to be driven by expanded supply centered on the new Gen5 model. ESS, which was mainly for power use, is expected to see increased sales of high-value-added UPS and home-use products. Cylindrical batteries are expected to maintain strong demand trends for power tools, M-mobility, and EV applications. Electronic materials are anticipated to see a seasonal decline in polarizing film sales, but OLED and semiconductor materials are expected to provide support.

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