] Lotte Chemical
will more than meet market expectations with a 690.4 billion won (US$583.45 million) operating profit in the fourth quarter last year, said Dongbu Securities on Jan. 12, raising the target price to 550,000 won from 470,000 won.
Considering that over 40 billion won one-time cost, including incentives, have been reflected, this exceeds its record earnings from the second quarter of 2016, explained analyst Han Seung-jae.
“It was the usual low season but the olefin division, butadiene and ethylene glycol in particular, propelled the earnings further boosted by favorable exchange rate,” said the analyst.
“As it nears peak season in the second quarter the upturn will become even sharper, and the market estimates will go up as well,” added Han.
By Hwang You-mee (email@example.com