[Market Highlight] LG Display Rallies for Third Day on Strong Q3 Outlook, Hits Record High

LG Display continued its upward trend for the third consecutive day, reaching a new 52-week intraday high.

As of 9:32 a.m. on October 10, LG Display was trading at 15,450 won on the Korea Exchange, up 870 won (5.97%) from the previous session. During the session, the price climbed as high as 15,470 won, setting a new 52-week high.

The positive outlook for the company's third-quarter performance appears to be driving the stock's rise. LG Display is expected to return to profitability in the third quarter. KB Securities projected that LG Display would post an operating profit of 447.6 billion won in the third quarter, marking a turnaround to profit. Kim Dongwon, a researcher at KB Securities, explained, "Fourth-quarter operating profit is estimated at 484.3 billion won, up 482.7% year-on-year, and second-half operating profit is expected to reach 931.9 billion won, returning to profitability thanks to increased utilization rates of small and medium-sized panel lines due to new model launches by strategic clients, and the end of depreciation on large OLED production lines."

Samsung Securities forecast that LG Display would record third-quarter sales of 7.1 trillion won and operating profit of 448.8 billion won, surpassing the market consensus for operating profit (363.3 billion won). Jang Junghoon, a researcher at Samsung Securities, stated, "The higher-than-expected utilization rate is due to the impact of new product launches by mobile clients, early shipments of panels ahead of new tablet releases, and increased demand concentration from expanded dominance in watch supply chains." He added, "Based on the strong third-quarter results, we are raising our full-year forecast to 25.7 trillion won in sales and 802.7 billion won in operating profit."