Samsung SDI's 3Q Earnings Could Get a Boost from One-Off Gains
Dow Jones
Sep 15
0747 GMT - Samsung SDI's 3Q earnings could get a boost from one-off gains in connection with winding up its battery joint venture with General Motors, says NH Investment & Securities' Ju Min-woo. The South Korean battery maker could receive about 150 billion won in compensation from GM, which exited the JV in August, the analyst says. Samsung SDI has acquired GM's stake to become the sole owner of the JV, which has a battery plant under construction in Indiana. NH expects Samsung SDI's 3Q operating profit to come in at about 260 billion won, well above a market consensus estimate of 107 billion won. NH raises its target price for the stock to 730,000 won from 600,000 won and keeps a buy rating. Shares rose 2.8% to close at 547,000 won.
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