[Featured Stock] Lotte Chemical Declines Amid Distant Prospects for Earnings Recovery
![[Featured Stock] Lotte Chemical Declines Amid Distant Prospects for Earnings Recovery](http://www.asiae.co.kr/news/img_view.htm?img=2024102409305871420_1729729858.jpg)
Lotte Chemical is experiencing a decline since the market opened on the 2nd. This is interpreted as a contraction in investor sentiment due to expectations that the industry improvement, a prerequisite for earnings recovery, will be delayed.
At 10:03 AM, Lotte Chemical was trading at 58,700 KRW, down 1.84% (1,100 KRW) from the previous trading day.
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On the same day, Youngkwang Choi, a researcher at NH Investment & Securities, stated, "The conditions for improved visibility of industry recovery are judged to be a significant drop in oil prices or a sharp improvement in supply and demand (capacity utilization recovery), but the likelihood of this materializing in the short term is low," and lowered the target price by 24% from the previous level.
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