 |
[Alpha Biz=(Chicago) Reporter Paul Lee] Daol Investment & Securities lowered its target stock prices for LG Energy Solutions and Samsung SDI on the 5th, saying that it will be difficult for secondary battery makers to improve their performance by the first half of this year due to slowing demand for electric vehicles.
"Secondary battery reverse growth and selling prices continue to decline due to slowing demand for electric vehicles," said Daol Investment & Securities Co. "It will be difficult to improve the performance of secondary battery companies until the first half of this year."
Specifically, Daol Investment & Securities predicted that LG Energy Solution's operating profit (KRW 573 billion) will be 9% below the consensus (market average forecast of KRW 630.2 billion) in the fourth quarter of last year due to sluggish demand from European customers despite the increased operation rate of its Ultium Cells 1 plant.
Samsung SDI predicted that its operating profit (KRW 383.1 billion) will fall below the consensus (KRW 522.5 billion) in the fourth quarter of last year due to a drop in shipments to the U.S. and delayed recovery in demand in the front market for power tools.
LG Energy Solution (580,000 Won → 520,000 Won) and Samsung SDI (820,000 Won → 620,000 Won) target price were lowered.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
