0054 GMT - LG Innotek's 1Q earnings could decline on weak seasonal demand but still beat street views, Daiwa Capital analyst S.K. Kim writes in a note. Operating profit of the South Korea-based Apple supplier is projected to fall 52% on quarter and 33% on year to KRW119 billion for the January-March period versus market consensus of KRW96 billion, Kim says. He foresees some positive catalysts for LG Innotek from the launch of a new iPhone SE model in 1Q and iPhone 17 products with enhanced Apple Intelligence features in 2025. Daiwa cuts its target for the stock by 40% to KRW210,000 and keeps a buy rating. Shares are 0.6% lower at KRW149,600. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
February 09, 2025 19:54 ET (00:54 GMT)
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