[Featured Stock] SK Innovation Surges 7% on Analysis Claiming "200,000 Won Is the Bottom"

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] SK Innovation is showing a sharp upward trend in the KOSPI market on the 30th. This appears to reflect a bargain buying trend following a significant drop in stock price after news of battery replacement for electric vehicles by Volkswagen, the world's largest automaker.

As of 11:13 AM on the same day, SK Innovation was trading at 219,500 KRW, up 7.07% (14,500 KRW) from the previous day.

Earlier, Yuanta Securities issued a new report titled "Even in the worst case, 200,000 KRW is the bottom for the stock price!" and set a target price of 300,000 KRW for SK Innovation. The target price of 300,000 KRW for this stock, proposed by Yuanta Securities analyst Hwang Gyu-won, is about 10% lower than the previous target price of 335,000 KRW issued on the 1st of last month.