May 09, 2024

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[THE INVESTOR] LG Innotek will post decent earnings in the second quarter as demand for its camera modules rises, said Daishin Securities on June 16, raising the target price to 190,000 won (US$167.62) from 160,000 won and maintaining a “buy” recommendation. 

Profitability of camera modules, boards and LEDs will be better than expected, said analyst Park Gang-ho estimating that its operating profit will reach 41.5 billion won beating market expectations.

The second quarter is a low season and both revenue and operating profit will take an upturn after that. The solid operating profit in the second quarter boosts confidence for the second half, said the analyst. 

Its operating profit in the latter half will surge 120 percent from the first half to 238.5 billion won and in next year rise by 24.8 percent to 432.9 billion won, according to Park. 

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