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[Alpha Biz=(Chicago) Reporter Paul Lee] Securities firms have released a report that lowered L&F's target price by 46%.
Hyundai Motor Securities released a report on the 2nd and lowered the target price of L&F from 295,000 won to 160,000 won. Kiwoom Securities and Shinyoung Securities also lowered their L&F targets by 19% and 15%, respectively.
Earlier on the 1st, L&F said it turned into a deficit with an operating loss of 222.3 billion won in the wake of a massive valuation loss of inventory assets stemming from a plunge in lithium prices last year. On the 2nd, the first trading day since the announcement of its performance, L&F closed at 145,600 won, down 4.8% from the previous trading day. It rose 6.7% the previous day, but returned more than half of the increase.
It is highly likely that L&F's deficit will continue this year due to inventory valuation losses and a drop in the average unit price (ASP). Kiwoom Securities expects its operating loss to reach KRW 86.4 billion in the first quarter of this year. Shinyoung Securities predicted L&F operating loss of 43.9 billion won this year.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
