[EQUITIES] ‘SK Materials remains on upswing in Q3’
[THE INVESTOR] SK Materials will post robust earnings in the third quarter, said Korea Investment and Securities on Oct. 10 maintaining a “buy” recommendation and 250,000 won (US$221.02) target price.
Despite the slowdown of its memory business, its subsidiaries’ earnings continue to improve as SK hynix’ new factory begins operations, and its operating profit in the period will hike 29 percent on-year to 51.8 billion won, said analyst Yoo Jong-woo.
Operating profit in the latter half will leap 45 percent from the first half to 108.4 billion won, and operating profit for the whole year will spike 24 percent from last year to 183.0 billion won. Earnings improvement of its subsidiaries is steadily expanding on the back of growing shipment of NF3, a key material for manufacturing semiconductors, he explained.
By Hwang You-mee (email@example.com)