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[Alpha Biz=(Chicago) Reporter Paul Lee] LG Electronics' stock price fell for seven consecutive trading days, falling below 100,000 won. It is the first time in about a month that LG Electronics' stock price has fallen to 90,000 won since the 2nd of last month (99,700 won at the closing price).
According to the Korea Exchange, LG Electronics is trading at 95,500 won as of 2:42 p.m. on the 7th, down 4.50% (4,500 won) from the previous trading day. LG Electronics, which opened at 99,200 won on the same day, fell to 95,200 won, which fell during the day. The figure fell 28.10 percent from 132,400 won in July.
Shares of LG Electronics have been on the decline since the 29th of last month.
Stock industry sources say LG Electronics' fourth-quarter earnings will worsen. This is because demand for IT products is recovering slowly.
Kiwoom Securities lowered LG Electronics' exclusive operating profit estimate for the fourth quarter by 10.3 billion won from 372.6 billion won. The target stock price also fell from 150,000 won to 140,000 won.
BNK Investment & Securities also lowered LG Electronics' target price from 150,000 won to 130,000 won.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
