[Feature Stock] TLB Surges Over 9% on Record-High Earnings

"Expansion of High Value-Added Substrate Production"

The stock price of TLB is showing strong performance, driven by expectations of steep earnings growth based on a stable order backlog.

As of 9:09 a.m. on October 2, TLB was trading at 64,000 won, up 5,300 won (9.03%) from the previous day.

On this day, Shinhan Investment & Securities initiated coverage on TLB, stating, "Order backlog and average selling price have reached record highs, and earnings growth is expected in the second half of the year." The firm set a target price of 73,000 won and a buy rating.

Seo Jibeom, a researcher at Shinhan Investment & Securities, said, "After turning a profit in the first quarter, strong performance has continued. The order backlog in the second quarter reached 44.2 billion won, up 148% year-on-year and 22% quarter-on-quarter, marking an all-time high." He added, "The average selling price also reached a record high due to increased sales of high value-added products such as Double Data Rate (DDR) 5 memory module substrates."

Seo also noted, "Next year, with new growth drivers such as SOCAMM and Compute Express Link (CXL) contributing to revenue in earnest, a revaluation of the company's valuation (stock price relative to corporate value) is also expected. As the NAND market improves amid the recent rise of the artificial intelligence (AI) inference market, memory modules are also worth paying attention to."