 |
LG Electronics building. (Photo=Yonhap News) |
[Alpha Biz=(Chicago) Reporter Paul Lee] Hi Investment & Securities expects LG's shareholder return to expand. Meanwhile, it raised its target stock price from 106,000 won to 135,000 won and suggested an investment opinion 'buy'. LG's closing price on the 8th, the latest trading day, is 95,200 won.
"As of the end of last year, net cash amounted to 1.683 trillion won," Hi Investment & Securities said. "If you look at the company's plan to use cash, it will buy 500 billion won in treasury shares, 1.3 trillion won in growth investment and 400 billion won in operating funds."
"(LG) held a board meeting on May 27, 2022 and decided to acquire treasury shares worth a total of 500 billion won by the end of this year," Hi Investment & Securities said. "We acquired treasury shares worth 300 billion won as of the 7th of last month."
"The possibility of shareholder return will increase as LG is expected to announce plans to raise more actionable corporate value on the use of KRW 1.7 trillion in net cash in the future," Hi Investment & Securities added.
Alphabiz Reporter Kim SangJin(hoondork1977@alphabiz.co.kr)
