View of LG Innotek factory. (Photo=LG Innotek)

 

[Alpha Biz= Reporter Kim Sangjin] On the 23rd, Samsung Securities forecasted an improvement in LG Innotek’s performance compared to last year and initiated coverage with a 'Buy' rating and a target price of 360,000 won.

In their report, Samsung Securities set the target price based on a price-to-book ratio (PBR) of 1.1 times the expected earnings for 2024.

They anticipate benefits from the launch of LG Innotek’s client’s first on-device artificial intelligence (AI) smartphone.

The forecast for this year's annual revenue is 21.5 trillion won, an increase of 4.6% from last year, while operating profit is expected to rise by 33.5% to 1.1 trillion won.

 

 

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