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[Apha Biz=(Chicago) Reporter Paul Lee] Analysts say LG Chem's stock price will continue to remain sluggish for the time being. This year's third-quarter earnings are expected to fall below initial expectations.
Meritz Securities lowered LG Chem's target stock price by 10.52% from 760,000 won to 680,000 won on the 18th. The estimated operating profit for the third quarter of this year is 567.8 billion won. The figure is far lower than the forecast for the first half of the year, which is expected to reach about 1 trillion won.
Analysts say that the petrochemical sector is suffering from a prolonged slump, and the secondary battery material sector, including bipolar materials, is also showing poor performance as it has failed to meet expectations. In particular, in the anode material sector, supply to battery-finished cell makers is decreasing compared to competitors, and a slowdown in sales to European customers is also being observed.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
