LG Innotek's stock price is undervalued despite its earnings increase (Daishin Securities)
LG Innotek's stock price is undervalued despite its earnings increase (Daishin Securities)
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  • 승인 2021.10.21 11:05
  • 최종수정 2021.10.21 08:06
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lg이노텍 CI
lg이노텍 CI

Regarding LG Innotek, Daishin Securities maintained its investment opinion "buy" and target stock price of 300,000 won, saying its performance has been higher than feared, but its stock price is undervalued.

"LG Innotek has been undervalued in the third quarter of this year, with stock prices falling about 15.6 percent since the 10th of last month.

Initial production disruptions of iPhone 13 due to the spread of Vietnam's COVID-19, power shortages in China, and some semiconductor supply disruptions in China have contributed to concerns over reduced production of iPhone 13 by 10 million units and a slowdown in performance,"Daishin Securities said on the 21st.

LG Innotek is expected to achieve its highest annual performance this year.

According to Daishin Securities, LG Innotek's operating profit is expected to exceed the consensus (308.6 billion won in the third quarter, 346.8 billion won in the fourth quarter) with 340.4 billion won in the third quarter and 396.7 billion won in the fourth quarter.

Analysts say that overall sales and operating profit ratio will surpass the consensus due to strong iPhone 12 sales, rising average supply unit prices of iPhone 13, and rising won and dollar prices.

Daishin Securities estimated that "sales and operating profit of the substrate material business, including semiconductor substrates, will increase 24.4% and 30.9% in 2021, respectively, compared to the previous year.".

Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com


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