[Featured Stock] LS ELECTRIC Rises 4% on Strong Q3 Earnings Outlook

[Asia Economy Reporter Minji Lee] LS ELECTRIC is showing an intraday rise of over 4%. This is attributed to a solid order backlog and favorable exchange rate conditions, leading to expectations of strong third-quarter earnings.

At 9:22 AM on the 6th, LS ELECTRIC was trading at 55,800 KRW, up 4.49% from the previous trading day. The company's stock price surged to as high as 56,900 KRW during the session.

On the same day, Kiwoom Securities analyzed that the global energy crisis could benefit LS ELECTRIC. They estimated that the third-quarter operating profit would increase by 33% compared to the same period last year, reaching 53.8 billion KRW.

Researcher Jisan Kim of Kiwoom Securities stated, “The power equipment sector is experiencing increased demand for renewable energy investments and high-efficiency devices due to the European energy crisis,” adding, “Exports are particularly strong centered on Germany and Southern European countries, and distribution networks within Europe are expected to expand.”

He continued, “Sales in the solar power sector, including offshore solar, are expected to rise from 82 billion KRW last year to 150 billion KRW this year,” adding, “Next year, sales from the Bigeumdo project will also be reflected.”

This content was produced with the assistance of AI translation services.