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[EQUITIES] ‘STI to post best performance ever’

[THE INVESTOR] STI  will record its best earnings this year, according to Shinyoung Securities on Oct. 20.

It forecast that the firm’s revenue in 2016 will reach 170.8 billion won (US$151.60 million) and operating profit will be 19 billion won, up 36 percent and 58 percent, respectively, from the previous year.

The securities firm maintained a “buy” recommendation and raised the target price to 16,500 won (US$14.73) from 15,000 won.

“After Apple announced that it will use OLED panels for its next model, panel manufacturers here and in China have begun aggressive investments in their facilities,” said Jeong Gyu-bong, an analyst at Shinyoung.

“This this will lead to STI, a semiconductor and OLED equipment manufacturer, to post a record-high performance.”

“Expectations for the sales of the printing device for OLED, steps away from commercialization, is rising,” Jeong added.

By Hwang You-mee (