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[Alpha Biz=(Chicago) Reporter Paul Lee] Hana Securities lowered its target stock price from 1.08 million won to 810,000 won on the 31st, saying Samsung SDI's poor performance continues.
Hana Securities said Samsung SDI's operating profit fell 37% on-year to 311.8 billion won in the fourth quarter of last year, which is below the consensus of 440 billion won.
Hana Securities analyzed that in the case of medium and large batteries, which account for 66 percent of sales, profits fell due to backlogging (time lag in input of raw materials) in the process of falling selling prices linked to metal prices, while small batteries, which account for 34 percent of sales, also attributed their poor performance due to sluggish demand for power air conditioning and micromobility.
In addition, operating profit in the first quarter of this year is expected to reach 27.9 billion won, down 45% from the same period last year, which is expected to continue its poor performance.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
