Daishin Securities on the 26th raised its target price to 190,000 won from the previous 180,000 won, saying profits from its energy materials business increased due to earnings growth in the cathode material sector in the second quarter. There is still a 20.25% increase compared to the closing price of KRW 158,000 on the 23rd. The investment opinion remained 'buy'.
POSCO Chemical recorded sales of 480 billion won and operating profit of 35.6 billion won in the second quarter. Sales and operating profit rose 41.1% and 773.9%, respectively, compared to the same period last year. During the same period, net profit turned to surplus and left 33.9 billion won.
Daishin Securities said, "The performance of the steel-related business was similar to the previous quarter, but the profit of the energy material business increased due to the growth of anode material performance.".
Daishin Securities added, "The operating profit of the energy materials business reached 13.9 billion won, accounting for nearly 40% of the total profit," and added, "In particular, it is characterized by the fact that the profit of the anode materials has begun to exceed the anode materials.".
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
