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[Alpha Biz=(Chicago) Reporter Paul Lee] SK Securities predicted on the 19th that LG Uplus will continue to grow its operating profit in the second quarter, although it is expected to perform poorly in the first quarter. The target price was lowered from 18,000 won to 16,000 won and the investment opinion was maintained 'buy'.
SK Securities expected LG Uplus' first-quarter operating profit to rise 2.2 percent on-year to 3.4846 trillion won and operating profit to 253.1 billion won, down 3.1 percent from a year earlier.
This is because smart home sales are expected to be stagnant due to termination of authority and lack of release of masterpieces last year, and operating profit is expected to fall below consensus due to one-off costs such as replacement of USIM due to personal information leakage.
SK Securities predicted, "Although we expect poor performance in the first quarter, operating profit growth will continue compared to the same period last year from the second quarter."
"From this year, the performance of the non-communication sector will be visible," he expected.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
