Biotech and 2battery stocks sidelined, Hyundai Motor, LG, and KT&G see mixed fortunes
7 month 7In the domestic stock market, biotech and 2battery-related stocks were relatively sidelined, prompting continued adjustments to sector target prices. Reports said target prices for Hyundai Motor and LG Energy Solution were lowered, while those for KT&G and Hyundai Department Store were raised.
7 month 7In the domestic stock market, biotech and 2battery-related stocks showed relative weakness, leading to a series of sector target-price adjustments. From investors’ perspective, fortunes clearly diverged by sector.
Some reports assessed that, as biotech and 2battery stocks were sidelined, target prices and outlooks had moved further apart. Brokerage reports presented contrasting views by sector.
China was assessed to have emerged as a global biotech hub. In response, domestic biotech companies are accelerating their efforts to target the Chinese market and expand local partnerships.
Hyundai Motor is 2expected to report quarterly results below market expectations, leading to a downward revision to its target price. The related report pointed to downside risks to earnings.
Hyundai Department Store's target price was raised as department store and duty-free results offset JINSS's weakness. Department store and duty-free sales were assessed as relatively strong.
LG Energy Solution's target price was lowered because supply bottlenecks for ESS packs are holding it back. The report cited delays in ESS shipments as a downward factor.
KT&G is 2expected to report quarterly results above expectations, leading to an upward revision to its target price. The report 2reflected the possibility of a quarterly earnings surprise.
Overall, clear differences in momentum are evident across industries. It is important for investors to review each company's earnings announcements and related disclosures.