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After 8 Years of Losses LGD’s OLED Production is Profitable
KB Securities raised its target price for LGD by 12% to KRW37,00 based on the OLED division turning profitable for first time in eight years. They anticipate (1) the large-size OLED panel business to generate significant profit for the first time in eight years, fueled by double-digit ASP growth and more shipments, and (2) the small-/mid-size OLED panel business to turn profitable for the first time since opening in 2017, as 2H21 panel orders are expected to surge with Apple’s next iPhone. 2Q21 earnings will likely hit a four-year high. 2Q21 OP were forecasted at KRW708.8bn (turn to profit Y/Y, +35.5% sequentially), which is 51.5% above the market consensus of KRW468.0bn, the best quarterly performance since 2Q17.
They are forecasting 2021 record earnings with expanding OLED panel client base
KB Securities raised its target price for LGD by 12% to KRW37,00 based on the OLED division turning profitable for first time in eight years. They anticipate (1) the large-size OLED panel business to generate significant profit for the first time in eight years, fueled by double-digit ASP growth and more shipments, and (2) the small-/mid-size OLED panel business to turn profitable for the first time since opening in 2017, as 2H21 panel orders are expected to surge with Apple’s next iPhone. 2Q21 earnings will likely hit a four-year high. 2Q21 OP were forecasted at KRW708.8bn (turn to profit Y/Y, +35.5% sequentially), which is 51.5% above the market consensus of KRW468.0bn, the best quarterly performance since 2Q17.
They are forecasting 2021 record earnings with expanding OLED panel client base
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