[THE INVESTOR] Shinhan Investment on Oct. 28 lowered the target stock price of Samsung SDI
to 110,000 won (US$97) from 135,000 won, citing uncertainties of the battery maker’s fourth-quarter earnings.
The company suffered an operating loss of 110.3 billion won in the third quarter, hit hard by the discontinued Samsung Galaxy Note 7 smartphone.
Shinhan predicted Samsung SDI’s operating loss this year could reach a combined 1 trillion won, considering an additional 71.1 billion won loss estimated in the fourth quarter.
But the securities firm maintained its “buy” recommendation for investors, saying the company owns lucrative stake worth 4.9 trillion won in Samsung Display adding to its own market value of about 6.2 trillion won.
By Lee Ji-yoon (email@example.com