Daishin Securities maintained its investment opinion 'buy' and target stock price of 400,000 won on the 15th, saying that SK Innovation's battery business is undervalued.
"The value of the battery (EVB) business reflected in the current stock price is around 6 trillion won," Daishin Securities said. "The value of the LG energy solution reflected in LG Chem's stock price is around 45 trillion won, and considering the aggressive mid- to long-term expansion plan and rising order balances, the relative discount is excessively large.".
According to Daishin Securities, SK Innovation's second-quarter operating profit will exceed market expectations of 359.6 billion won, down 6.1% from the previous quarter to 471.9 billion won.
Daishin Securities said, "SK Innovation's operating profit this year will be 1.78 trillion won, which will escape a massive deficit in the previous year," adding, "Although this is due to massive inventory profit in the first quarter, this means profit quality improvement, including a rebound in refining margins and reduced battery losses.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
