SK Holdings on Aug 14 reported that its consolidated operating profit plunged34.6% y-y (and 35.4% q-q) to KRW1.1t in 2Q, which missed the consensus by15.8% as oil price declines led to inventory valuation losses at SK Innovation.    The company’s parent-based operating profit leapt 48% y-y to KRW84.9b, while thatof SK E&S came in at KRW82b (vs KRW9.2b in 2Q16) thanks to a new power plantand utilization hikes. Meanwhile, semiconductor subsidiaries Essencore and LGSiltron both fared well amid an industry boom.    We keep the stock at BUY and raise our 12-month target price by 13.3% toKRW340,000 to reflect the rising value of its holdings.

声明：如本站内容不慎侵犯了您的权益，请联系邮箱：wangshiyuan@epins.cn 我们将迅速删除。