April 24, 2024

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[THE INVESTOR] LG stocks will continue to rise as its major subsidiaries maintain their upturns, said Hanwha Investment and Securities on May 26, raising the target price to 90,000 won (US$80.39) from 67,000 won.

Its stock price hiked 19.5 percent in May alone, led by the stock price rise of its key subsidiaries and bolstered by the improved earnings of its private subsidiaries, said analyst Lee Sang-won forecasting that the upward trend will continue.

The value of LG’s stake in listed subsidiaries increased by 1.4 trillion won while its private affiliate LG Siltron is rallying on the booming semiconductor market, explained the analyst. The sale of 51 percent stake of LG Siltron to SK in the second half will add 620 billion won cash to its asset, said Lee.

By Hwang You-mee (glamazon@heraldcorp.com)