POSCO Chemical shares 'buy' opinion was maintained.
POSCO Chemical is expected to soon materialize its investment plan in North America, which aims to mass-produce in 2023.
IBK Investment & Securities maintained its target price of POSCO Chemical at 190,000 won and investment opinion 'BUY' on the 18th.
"POSCO Chemical will supply about 50,000 tons of anode materials every year to major customers (Ultium Cells) from 2023," IBK Investment & Securities said. "To this end, it is expected to materialize a plan to build an anode material production plant in North America within the second half of this year.".
POSCO Chemical is expected to supply 50,000 tons of 4 won anode materials every year to Ultimate Cells Plant 1, a joint venture between LG Energy Solution and General Motors (GM) in the U.S., starting in 2023. POSCO Chemical is pushing to build a new plant in North America to supply this anode material.
It is understood that they are looking for a candidate site. POSCO Chemical has set a goal of increasing its annual production capacity of anode materials from 40,000 tons in 2021 to 275,000 tons in 2025.
"POSCO Chemical is also likely to be responsible for the volume of anode materials at Ultium Cells' second plant," IBK Investment & Securities said. "We need to take an approach with a long breath, paying attention to 2023, when the supply of Ultium Cells will begin in earnest.".
POSCO Chemical is expected to generate 1.947 trillion won in sales and 143 billion won in operating profit on a consolidated basis this year. Sales are up 24% and operating profit is up 137% from last year.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
