April 20, 2024

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[THE INVESTOR] LG Innotek’s earnings will improve from the second half, said IBK Investment and Securities on May 30, maintaining a “buy” recommendation and raising the target price to 190,000 won (US$175.62) from 170,000 won.

Its earnings will bottom out in the second quarter but will dramatically improve as its shipments to a overseas client begins in earnest from July. Last year, one model was equipped with 3-D sensors but this year the number will increase. Considering the changes that may be applied to new models next year, the earnings will continue to advance, said analysts Kim Un-ho and Shin Woo-cheol. 

LG Innotek’s current stock price is highly attractive as slow earnings have been reflected. Being the largest Korean parts vendor to Apple, its earnings will pick up in latter half, and will build stable partnership with its overseas clients, said the analysts. 

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