[Click eStock] "POSCO Holdings, Unwavering Secondary Battery Strategy... Target Price Maintained"

InterBattery 2024 Results Maintain Secondary Battery Strategy
'Jang In-hwa System' Enables Balanced Strengthening of Steel and New Business Competitiveness
Lithium Carbonate Price Rising Trend, Future Value Growth Driver

Daishin Securities analyzed on the 12th that POSCO Holdings is maintaining its strategic stance on the secondary battery materials business. The investment opinion 'Buy' and the target price of 570,000 KRW were maintained. The closing price of POSCO Holdings on the previous trading day was 437,000 KRW.

Researcher Lee Taehwan of Daishin Securities stated, "POSCO Group has confirmed former POSCO President Jang Inhwa as the next chairman candidate and plans to have the appointment agenda approved at the shareholders' meeting," adding, "Based on his past experience, it is understood as a choice that can evenly strengthen competitiveness in both the steel and new business sectors, but it is true that there was significant uncertainty regarding the new chairman system."

He said, "It is meaningful that through InterBattery 2024, the existing new business strategy stance without adjusting the investment speed in the secondary battery materials business was reaffirmed," and added, "Recently, lithium carbonate prices have rebounded, rising 14% from the bottom." Although concerns about oversupply due to sluggish demand remain high for lithium carbonate, attention was drawn to the fact that production cuts are gradually becoming a reality. He predicted that as more companies reduce production, lithium prices could follow with an upward trend. This could act as a future value growth driver for POSCO Holdings.

InterBattery 2024, the largest battery exhibition in Korea, was held for three days starting from the 6th. A total of 579 domestic and international companies participated. The provisional number of visitors was estimated at about 120,000. Listed companies from the POSCO Group participating in the event include POSCO Holdings (lithium, nickel, recycling), POSCO Future M (anode and cathode materials), and POSCO International (raw material procurement, drive motor cores).