Hyundai Motor Securities predicted on the 24th that LG Innotek will achieve its highest performance this year, saying both short-term and mid- to long-term momentum are good.
In response, the company maintained its "buy" opinion and raised its target price to 290,000 won from 280,000 won.
Hyundai Motor Securities predicted that LG Innotek's sales and operating profit in the third quarter of this year rose 56.3 percent and 245.8 percent on-year to 3.4851 trillion won and 309.2 billion won, respectively, exceeding market consensus.
"The third-quarter earnings are expected to grow mainly in the optical solution business by supplying North American customers' new product-oriented cameras, front and rear 3D cameras in the second half of the year," Hyundai Motor Securities said.
Hyundai Motor Securities added, "The expansion of the supply of AiP substrates for 5G is also expected to lead the earnings growth of the substrate division and contribute to the company's earnings growth.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
