Mirae Asset Raises LS Electric Price Target by 20% to 2.8M Won on Strong Q2 Results

According to Mirae Asset Securities, on July 26, the brokerage upgraded LS Electric's price target to 2.8 million won from 2.3 million won, maintaining a buy rating. The target implies over 25% upside from July 23's closing price of 2.235 million won.

The move reflects stronger-than-expected second-quarter earnings. LS Electric reported Q2 revenue of 1.577 trillion won, up 32.2% year-over-year, with operating profit surging 64.3% to 178.5 billion won. First-half new orders reached 3.2 trillion won, prompting the company to raise its full-year guidance to 6-6.5 trillion won from 4 trillion won previously.