Samsung SDI shares have surged over 3% during trading hours. This increase comes as expectations grow for domestic battery companies to benefit from U.S. efforts to restrict Chinese battery technology, supported by positive forecasts from analysts.
According to the Korea Exchange, as of 2:11 PM on September 15, Samsung SDI shares were trading at 548,000 won, up 16,000 won (3.01%) from the previous trading day.
Other companies in the secondary battery sector, such as Lotte Energy Materials (up 2.48%), EcoPro BM (up 1.64%), and EcoPro (up 1.59%), also showed strong performance. Additionally, SK Innovation (up 3.22%) and LG Energy Solution (up 3.27%), both considered part of the 'big three' battery companies in South Korea alongside Samsung SDI, saw gains.
This positive trend follows a public letter from the U.S. Department of Transportation criticizing Ford for its battery technology collaboration with China's CATL, which has heightened expectations for domestic battery firms.
Analysts have also expressed optimism regarding Samsung SDI. NH Investment & Securities raised its target price for Samsung SDI by 22% to 730,000 won while maintaining a 'buy' rating. Research analyst Jumin Woo stated, "The preference for prismatic and cylindrical batteries is increasing, enhancing order competitiveness, and visibility for energy storage system (ESS) orders is also improving. We expect third-quarter operating profit to reach 260.3 billion won, significantly exceeding the market expectation of 107 billion won."
Kim Cheol-jung, an analyst at Mirae Asset Securities, also projected that third-quarter operating profit would be 302.3 billion won, surpassing market consensus, and noted that the company is likely to record surprise results for three consecutive quarters. Mirae Asset Securities maintained a 'buy' rating and a target price of 1 million won for Samsung SDI.
* This article has been translated by AI.
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