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[Alpha Biz=(Chicago) Reporter Paul Lee] Goldman Sachs issued a sell opinion on Ecopro BM and Posco Future M, but the stock price ended with a sharp rise.
On the 13th, EcoProBM closed at 283,000 won, up 5.4%. POSCO Future M closed at 393,000 won, up 1.16%. Foreigners raised their stock prices by net buying the two stocks worth 69.4 billion won and 81.2 billion won, respectively.
On the previous day, Goldman Sachs launched an analysis of the domestic bipolar material industry and sold EcoprobM and POSCO FutureM. Goldman Sachs has set EcoProBM's 12-month target price at 125,000 won. It is half of the previous day's closing price (268,500 won). The target price of POSCO FutureM was 220,000 won, 43% lower than the closing price of the previous day.
As the reason for the selling opinion, it pointed out that anode materials are of almost the same quality, oversupply is expected for 10 years, and there will be no supply shortage in the U.S. even if Chinese anode materials are excluded. It also pointed out that the valuation of Korean companies (the level of stock prices versus performance) is excessive.
Goldman Sachs said it prefers battery cell companies such as LG Chem and Samsung SDI to bipolar companies. He explained that entry barriers are higher than bipolar materials and that securing margins is easy.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
