[Alpha Biz=(Chicago) Reporter Paul Lee] NH Investment & Securities maintained its target price of 660,000 won and 'buy' opinion on POSCO Holdings.

NH Investment & Securities said, "POSCO Holdings will lead the growth of the secondary battery material industry in the future. In particular, lithium, which starts commercial production this year, will have a large impact."

During the first half of this year, the construction of 43,000 tons of ore lithium annually and 25,000 tons of salt water annually is scheduled. NH Investment & Securities said it expects sales of about 1 trillion won if the current lithium hydroxide price ($ 12,000 per ton) is applied.

"POSCO Holdings will increase its supply capacity to meet market demand, with a target of 423,000 tons by 2030," said NH Investment & Securities. "It is currently equivalent to about 6.6 trillion won in sales when applying the price of lithium hydroxide."

NH Investment & Securities predicted that POSCO Holdings' consolidated operating profit in the fourth quarter of last year would be 833 billion won, down 30% from the previous quarter. This is below the consensus (average stock market forecast) of 16%.

 

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