 |
BNK |
[Alpha Biz= Reporter Kim Sangjin] On July 8th, Investment & Securities raised the target stock price for LG Electronics from 130,000 KRW to 140,000 KRW.
BNK Investment & Securities stated, "We have revised our 2024 operating profit estimate upward by 10% following an upward adjustment in H&A (Home Appliance & Air Solution) performance. Despite ongoing macroeconomic concerns due to prolonged high interest rates, we expect the undervaluation to be resolved due to differentiated performance."
LG Electronics reported consolidated sales of 21.7 trillion KRW and an operating profit of 1.1961 trillion KRW for the second quarter. These figures exceeded market consensus by 2% and 20%, respectively.
BNK Investment & Securities attributed this strong performance to higher-than-expected appliance sales and favorable results from its subsidiary, LG Innotek. Even excluding LG Innotek, LG Electronics' headquarters recorded sales of 17.4 trillion KRW and an operating profit of 1.0947 trillion KRW.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
