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View of LG Innotek factory. (Photo=LG Innotek) |
[Alpha Biz= Reporter Kim Minyoung] BNK Investment & Securities raised LG Innotek's target price from 290,000 won to 330,000 won on the 27th. The closing price on the 26th is 273,000 won.
"We will raise the target price by 14% to 330,000 won, which is better than expected," said BNK Investment & Securities. "The sales of Samsung Electronics' Galaxy S24, which launched AI phones first, are expected to increase by 4 million units in the first half of the year. North American customers will actively introduce AI functions in the second half of the year. The market share is expected to recover."
"Folded zoom function is expected to be applied to Pro models following Pro Max to next-generation iPhones in the second half of the year," said BNK Investment & Securities. "Profitability is expected to improve due to increase in camera module ASP and internalization of actuator."
BNK Investment & Securities raised LG Innotek's second-quarter sales by 1% to 4.49 trillion won. Operating profit rose 56% to 101.4 billion won.
"The demand for the iPhone 15 is improving due to the higher-than-expected exchange rate and the inventory adjustment of North American customers," said BNK Investment & Securities. "The profitability of the optical solution division has improved."
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
