LG CHEM stock prices surged by over 7% in early trading on the 19th. As expectations for a profit turnaround in the first quarter of this year increased, buying pressure is interpreted to have intensified.
As of 9:26 a.m. on this day, LG CHEM is trading at 248,000 won, up 16,500 won (7.13%) from the previous day.
It seems that buying sentiment improved due to projections from the securities industry that LG CHEM will post operating profit substantially exceeding market expectations in the first quarter of this year (January to March).
IBK Securities estimated in a report on this day that LG CHEM will record an operating profit of 191 billion won in the first quarter of this year, marking a profit turnaround from the previous quarter. This figure significantly exceeds the securities industry's average projection of 61.5 billion won.
Lee Dong-wook, a researcher at IBK Securities, noted, “The operating loss in the petrochemical institutional sector is expected to decrease to 73.7 billion won compared to the previous quarter,” adding, “The restructuring effects for generic products such as styrene monomer (SM), ethylene oxide (EO), and ethylene glycol (EG) have occurred, and high-value-added products like ABS for automobiles have maintained robust profitability.”