April 20, 2024

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[THE INVESTOR] LG Innotek will post record earnings in the fourth quarter, said Daishin Securities on Dec. 7, maintaining a “buy” recommendation and 210,000 won (US$192.48) target price. 

Its operating profit will beat market expectations at 184.7 billion won, up 56.7 percent on-year, and revenue will hike 32.6 percent to 2.72 trillion won, estimated analyst Park Gang-ho.

It is supplying dual camera modules for iPhone X and iPhone 8 Plus and in addition provides 3-D sensing cameras, two-metal chip on films and flexible print circuit boards, with higher prices than last year, explained the analyst. 

Its earnings next year will be the highest ever, with 9.46 trillion won in revenue and 483.5 billion won operating profit, up 26.2 percent and 42.2 percent on-year, respectively, according to Park. 

Boosted by LG Group’s expansion its auto parts sales, in particular, will be over 1 trillion won for the first time and serve as a new momentum, he added.

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