[Featured Stock] LG Chem Continues Rally for Second Day... Hits 52-Week High

LG Chem's stock price has been showing strength for the second consecutive day. The benefits from the U.S. Inflation Reduction Act (IRA) and expectations of strong performance in the advanced materials sector appear to be driving the stock price upward.

As of 9:49 a.m. on the 11th, LG Chem is trading at 797,000 KRW on the Korea Exchange, up 6.27% compared to the previous trading day.

Shortly after the market opened, LG Chem rose to a high of 815,000 KRW, setting a new 52-week high.

Choi Young-kwang, a researcher at NH Investment & Securities, recently raised LG Chem's target stock price from 900,000 KRW to 1,000,000 KRW in a report, considering the advanced manufacturing production tax credit (AMPC) effect of its subsidiary LG Energy Solution.

Researcher Choi stated, "Although a decline in selling prices is expected for cathode materials in the advanced materials business sector, the expansion effect of the Cheongju 4 plant will be reflected throughout the year, and shipments this year are expected to increase by 60% compared to last year," adding, "The advanced materials sector is expected to enter a normal growth trajectory."

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