LG Innotek Target Price Raised to 1.1M Won on July 6, Up 10% Despite iPhone Price Concerns

According to iM Securities analyst Park Jung-ha, the firm raised its target price for LG Innotek to 1.1 million won on July 6, up 10% from the previous 1 million won, maintaining a buy rating. Despite recent concerns over potential iPhone price increases, the analyst cited solid fundamentals and a 51% decline in share price from recent highs as a buying opportunity on adjustments.

For the second quarter, iM Securities expects LG Innotek's revenue to reach 5 trillion won with operating profit of 200.8 billion won, 38% above previous estimates and 26% above market consensus. For 2026-2028, the firm raised operating profit forecasts by 4.5-22%, projecting annual growth of 43% from 665 billion won in 2025 to 1.97 trillion won by 2028.