[Alpha Biz=(Chicago) Reporter Paul Lee] The LG Chem recovered 800,000 won.
It has been a year and five months since November 2, 2021 (based on the closing price, 831,000 won). Hot interest in secondary batteries is now shifting to LG Chem in earnest.
According to Market Point, The LG Chem closed at 806,000 won on the 11th, up 56,000 won (7.47%) from the previous trading day.
NH Investment & Securities raised LG Chem's target price from 900,000 won to 1 million won. The move comes after LG Energy Solutions' tax credit (AMPC) benefits related to the Inflation Reduction Act (IRA) were reflected in its operating profit and LG Chem posted its first-quarter earnings.
The LG Chem is a leading chemical company and focuses on petrification, but it is also engaged in polarization business. Since last year, the company has been expanding its high-tech materials sector by adding lithium manganese phosphate iron (LMFP) cathode materials to its business portfolio.
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