The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com -- Ed.LS Holdings’ earnings momentum is being spurred by LS MnM earnings consolidation. The firm is beefing up its business portfolio by expanding capacity and increasing its stakes in subsidiaries. Mo
The author is an analyst of NH Investment & Securities. He can be reached at jaekwang.rhee@nhqv.com -- Ed.Although lowering our TP, we stick to a Buy rating on LIG Nex1. From a mid/long-term perspective, we view LIG Nex1’s shares as being undervalued at their current price point. A record-high order
The author is an analyst of Shinhan Securities. He can be reached at chank@shinhan.com -- Ed.IT materials and thin-glass processing services providerChemtronics focuses mainly on chemicals and electronics businesses. The chemicals business division, which generated 47% of total sales in 2022, is wid
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.While the recovery in China-bound commodity demand is weak, rising second-hand ship prices provide a clear indication that supply/demand will improve in the mid/long term, amid strengthening environme
The author is an analyst of NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com -- Ed.We expect LGE to post sound 1Q23 results on cost reduction effects. Full-fledged earnings expansion looks possible in 2H23 alongside expected stronger demand and decreased automotive electronics cos
The author is an analyst of NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.Retail/Fashion industry growth is currently being led by offline businesses, conditioned by both the fact that the Lunar New Year’s holidays fell in January this year and by an increase in external acti
The interest rate gap between Korea and the United States widened to a record high as the U.S. Federal Reserve took the baby step of raising its key interest rate by 0.25 percentage points. As the possibility of overseas capital outflows increased due to the widening of differences in interest rates
A seismic change is being made in the semiconductor business structure of Samsung Electronics, which has historically focused on memory semiconductors. As the slump in the memory industry continues, Samsung Electronics’ quarterly sales in the foundry business, being fostered as a new growth driver,
Samsung Biologics plans to build a fifth plant in Songdo, Incheon, Korea by investing more than 1 trillion won (US$768 million). Previously, the company laid out a plan to build a second campus in October of last year and invest 7.5 trillion won (US$5.8 billion) in the construction of its fifth and
Samsung Electronics laid out a plan to build a semiconductor cluster in the town of Namsa in Yongin, South Korea, on March 15. The announcement of the plan shows the Korean tech giant’s objective of not losing its leadership in a global semiconductor hegemony war. It is also meaningful in that the c
The author is an analyst of KB Securities. He can be reached at jeff.kim@kbfg.com. -- Ed.We maintain BUY and TP of KRW80,000 on SEC. We see an inevitable earnings slump in 1H23 as DRAM/NAND shipments and prices are hit by weak demand and inventory adjustments from North American server companies, bu
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed. LS Holdings’ earnings momentum is being spurred by continued robust copper prices and consolidation recognition of LS MnM. The firm is beefing up its business portfolio by expanding capacity, f
The author is an analyst of NH Investment & Securities. He can be reached at jooyh@nhqv.com. -- Ed.Lotte Chilsung’s competitiveness is on the rise in the zero-calorie carbonated drinks and soju markets. Further recapturing soju market share is to be crucial—the firm is aiming to achieve a 20% market
The author is an analyst of NH Investment & Securities. He can be reached at sw.kang@nhqv.com. -- Ed. January jobs report data, which confirmed both an employment surprise and a slowdown in wage growth, supports Brainard’s view that inflation stabilization is possible without a cooling of the job ma
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com. -- Ed.FILA Holdings is forecast to report significant 4Q22 earnings decline due to domestic sales channel adjustments and US inventory disposal. In 1Q23, however, a gradual improvement in fundamentals, st
The author is an analyst of NH Securities and Investment. He can be reached at yk.choi@nhqv.com. -- Ed.SK Innovation will likely report disappointing 4Q22 earnings. Although we lower our earnings estimates, we believe that the firm will achieve gradual OPM improvement down the road. SK On should tur
The author is an analyst of NH Investment & Securities. He can be reached at sw.kang@nhqv.com. -- Ed. When divided in terms of Powell’s criteria of: 1) goods; 2) housing costs; and 3) services, the US price index is in line with the Fed chair’s projected trajectory. Additional hikes are required, bu
The author is an analyst of NH Investment & Securities. He can be reached at pk.park@nhqv.co. -- Ed.US market prescription trends proved stable m-m in December. The US market shares of most domestic biosimilar players have been widening as of late, but further decline in their ASPs is being seen in
The author is an analyst of KB Securities. He can be reached at jk.lim@kbfg.com. -- Ed. Bank of Korea focus on consumer prices; rate freeze in January would not signal end of rate upcycleBoth the BoK and U.S. Fed have stated that they will step down the pace of rate hikes, but financial markets are
The author is an analyst of NH Investment & Securities. He can be reached at sw.kang@nhqv.com. -- Ed. Rather than hawkish comments from policymakers, the market is focused on November CPI and retail sales index data. For the time being, the US bond market will remain on a hard landing, dovish transi