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[Alpha Biz=(Chicago) Reporter Paul Lee] IBK Investment & Securities lowered LG Innotek's target price from 350,000 won to 300,000 won on the 26th. They believe that there is a lack of power to move stock prices for the time being. The off-season in the first half is expected to be at the previous year's level.
"Optical solutions are sluggish in the first half of 2024 due to seasonal," said IBK Investment & Securities. "Customers' forecasts for annual volume will still be maintained and improved camera specifications will continue to be affected in 2024."
IBK Investment & Securities expected LG Innotek's first-quarter sales to fall 42.5% from the fourth quarter of 2023 to 4.3442 trillion won. During the same period, operating profit fell sharply to 90.6 billion won. The main reason is the sluggishness of the optical solution division, and the profitability of the substrate material division is also expected to be sluggish.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
