'Battery Big Three' Rise Together as Secondary-Battery Stocks Shine [Stock NOW]

[Financial News] Related stocks are gaining during the trading session on expectations that South Korean battery makers could benefit if efforts to reduce dependence on Chinese battery technology in the United States intensify.
Samsung SDI was trading at 552,000 won, up 3.76%, as of 1:35 p.m. on the 15th on the Korea Exchange’s main board.
LG Energy Solution (2.99%) and SK Innovation (4.10%), which are mentioned alongside Samsung SDI as South Korea’s three major battery makers, were also strong.
On the KOSDAQ market, secondary-battery stocks such as ECOPRO BM (2.79%) and ECOPRO MATERIALS (2.02%) were also rising.
The gains appear to have been driven by the United States Department of Transportation (DOT) sending an open letter to Ford and publicly criticizing its cooperation with Chinese battery maker CATL.
NH Investment & Securities raised Samsung SDI’s target price by 22%, from 600,000 won to 730,000 won, on the 15th, reflecting expanded energy storage system (ESS) orders and stronger competitiveness in battery orders. Min-woo Ju, a researcher at NH Investment & Securities, assessed, "The preference among downstream customers for prismatic and cylindrical batteries is strengthening the company’s competitiveness in securing orders." He added, "The fact that it can use its stake in affiliate Samsung Display as a source of funds and respond promptly to market demand is also a structural factor supporting a re-rating."
Yuanta Securities Korea also raised SK Innovation’s target price from 170,000 won to 200,000 won, citing narrowing losses in its battery business centered on SK On and improved refining and lubricant performance.
[email protected] Joo Won-kyu Reporter