LotteChemical is estimated to have achieved record-breaking operating profit in thefirst quarter of this year. Some analysts expected Lotte Chemical's strongperformance to continue for the time being since the petrochemical industryentered the phase of "super cycle."
Anotherpositive factor that would contribute to increasing the corporate value ofLotte Chemical is the upcoming IPO of its Malaysian subsidiary Lotte ChemicalTitan Holding which is scheduled to be listed within the second half of thisyear.
KTBInvestment & Securities presented a target price of 600,000 won for thecompany, giving a "strong buy" recommendation.
OnApril 19, Lotte Chemical shares closed at 340,500 won, down 500 won or 0.15percent from the previous day. After surpassing the 400,000-won level onFebruary 10 (407,000 won), Lotte Chemical shares surged to near its all-timehigh of 458,000 won set on August 1, 2011. Its shares, however, took a downturnthereafter and hovered at around the 350,000-won level.