April 26, 2024

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[THE INVESTOR] LG Electronics shares will be boosted by its decision to join hands with US Qualcomm to co-develop self-driving car technology, said Daishin Securities on Oct. 20, maintaining a “buy” recommendation and 100,000 won (US$88.26) target price. 

LG is also seeking to take over ZKW, an Austrian parts maker, and is accelerating its moves in the self-driving and electric vehicle markets, noted analyst Park Gang-ho. 

It has already secured top place globally for telematics, and Qualcomm owns telecom and semiconductor technologies in LTE. Their partnership will have synergy effects when the self-driving and electric vehicle market blooms, forecast the analyst. 

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