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LIG Nex1 |
[Alpha Biz= Reporter Kim Sangjin] On the 2nd, LIG Nex1 experienced a sharp decline of over 11%, closing at 195,700 KRW due to profit-taking, following a record-high intraday price.
According to the Korea Exchange, LIG Nex1 ended the trading day down 25,300 KRW (11.45%) from the previous day, settling at 195,700 KRW. The stock, which opened at 220,500 KRW, continued to fall throughout the day, hitting an intraday low of 193,500 KRW, down 12.44%.
The previous day, LIG Nex1 had reached an all-time intraday high of 228,000 KRW and closed at 221,000 KRW, up 0.45%. The stock had been on a recent upward trend, including a 9.73% rise on the 28th.
KB Securities downgraded its investment rating for LIG Nex1 from 'Buy' to 'Hold,' stating that the recent price surge had pushed the stock above its target price. They noted that additional stock price increases would require new momentum and upward adjustments in earnings estimates. However, they slightly raised the target price from 195,000 KRW to 200,000 KRW.
In contrast, Jang Nam-hyun, an analyst at Korea Investment & Securities, maintained a 'Buy' rating on LIG Nex1, raising the target price from 215,000 KRW to 260,000 KRW in his report released that day.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
