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[Alpha Biz=(Chicago) Reporter Kim Jisun] Securities firms raised their target stock prices for LS Electric (LS ELECTRIC) on the 26th. Following its earnings surprise in the second quarter of this year, it is expected that it will continue to grow in the future.
On the previous day, LS Electric announced that its consolidated operating profit for the second quarter of this year was KRW 104.9 billion, up 74.6% from the same period last year. Sales reached 1.2018 trillion won, up 36.8% from the same period last year. This is the first time that LS Electric's quarterly sales and operating profit exceed KRW 1 trillion and KRW 100 billion, respectively.
Hana Securities raised LS Electric's target price from 115,000 won to 150,000 won. NH Investment & Securities (90,000→140,000 won) and Shinhan Investment & Securities (79,000→137,000 won) also raised their target prices. Hyundai Motor Securities (160,000 won), eBest Investment & Securities (156,000 won) and Kiwoom Securities (135,000 won) also raised their standards.
Securities firms forecast that LS Electric will continue its earnings growth in the second half of the year on the back of facility investment in North America and global renewable energy investment.
Kiwoom Securities raised LS Electric's target price from KRW 110,000 to KRW 135,000, but its investment opinion dropped one notch from the previous "buy (expected to rise by more than 20%)" to "outperform (expected to rise by 10∼20%)."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
