Institutions raise target price for South Korea's LG

Golden Ten Data reported on June 1 that South Korea's Kiwoom Securities stated LG's net asset value has reached a historic high, boosted by rising share prices of LG's subsidiaries. The institution has maintained its “buy” rating on LG and raised the target price to 200,000 KRW. LG’s previous closing price was 146,600 KRW. Kiwoom Securities analyst Ahn Young-jun said, “Recently, the growth potential of emerging businesses such as artificial intelligence and robotics has become increasingly prominent, resulting in rising share prices of companies under the LG Group.” “LG is expected to directly benefit from the Group's enhanced capabilities in new businesses, and, as subsidiary share prices increase, its net asset value will also grow.”