In today’s briefing:
- Names to Watch for Inclusion in MSCI Korea May Review
- LG Energy Solution: Consensus Likely to Lower Sales and OP Estimates in 2023
Names to Watch for Inclusion in MSCI Korea May Review
- Posco International‘s recent merger with Posco Energy increased the share count. The distance from the float market cap borderline is catchable, given the current share price uptrend.
- Hanwha Aerospace will likely fail inclusion in this February review. The gap with the hurdle is not large, so it can aim for inclusion in the May review.
- Among Outside IMI, Korea Gas is tricky as it is a FOL stock. MSCI-concluded float is 30%, and the gap with the float market cap hurdle is still quite large.
LG Energy Solution: Consensus Likely to Lower Sales and OP Estimates in 2023
- On 27 January, LG Energy Solution provided financial and operational guidance for 2023.
- We believe that the consensus is likely to reduce sales estimate by 3% and operating profit estimates by 10-15% in 2023.
- Out of the total of 3.4% of ESOP shares, about 0.5% to 1.5% of the shares could be sold in the first few weeks after the end of the lock-up.
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