April 19, 2024

• 

[THE INVESTOR] SK Innovation’s corporate value has increased from diversifying businesses and is attractive with relatively high dividends, said KTB Investment and Securities on April 5, initiating coverage of the company with a “buy” recommendation and 280,000 won (US$264.23) target price. 

Its earnings in the second quarter will rebound as kerosene, diesel and gasoline maintain high margins, said analyst Lee Heui-cheol.

Its lubricants unit is planning to go public in the second quarter and is estimated to be worth 5 trillion won. SK Lubricant’s IPO will bring in over 1.1 trillion won in cash, highlighting the value of its operations, according to the analyst.

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