[Infostock Daily= Reporter An Hoe Hyun] Daishin Securities forecast that LG Innotek will post a surprise performance that surpasses the consensus in the first quarter of this year, raising its target stock price to 280,000 won, up 12% from 250,000 won.
"LG Innotek's first-quarter operating profit is expected to rise 65.6% year-on-year to KRW 291 billion," the company explained, adding, "This exceeds the previous estimate(KRW 235 billion) and consensus(KRW 211.6 billion), the highest as of the first quarter."
"Apple's iPhone is selling well around the premium and maintains a high profit margin due to the mix effect of optical solutions," the company explained, adding, "This is due to the fact that electronic equipment components are estimated to be in the black while semiconductor substrates are expected to improve profitability due to the mix effect amid increased sales of ISP, AIP, FC and CSP."
Daishin Securities expects LG Innotek's operating profit to reach a record high of 948.2 billion won this year, up 39.2% from a year earlier.
Reporter An Hoe Hyun ahh@infostock.co.kr
