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Securities firms in and outside Korea are sending positive signals to SK Innovation’s oil refining business and battery business.<\/span><\/p>\n <\/p>\n Lee Jin-myung, senior researcher at Shinhan Financial Investment, said in a report dated January 19th that \u201c2022 will be a good year for both SK Innovation\u2019s traditional and new growth businesses,\u201d and proposed a target price of KRW 380,000 for SK Innovation. Researcher Lee explained: \u201cRefining margin this year has risen by about 4 US dollars per barrel compared to last year to reflect the tight market situation, and it will continue to increase.\u201d \u201cBattery business sales are expected to grow 96% in 2022, and operating profit will be around KRW 10.2 billion, a turn to black.\u201d<\/span><\/p>\n <\/p>\n He continued, \u201cWe expect significant sales growth when SK On, a subsidiary of SK Innovation, starts the commercial operation of the first battery plant in the U.S. and operates the second battery plant in Hungary.\u201d \u201cIn the second half of this year, the effect of reducing fixed costs will occur, and profitability will be improved gradually,\u201d Lee emphasized.<\/span><\/p>\n <\/p>\n Kang Dong-jin, a researcher at Hyundai Motor Securities, also said about SK Innovation in a report dated January 18: \u201cThe company\u2019s oil refining business is expected to record robust growth thanks to rising oil prices and improved refining margins.\u201d “The battery business will exceed KRW 1 trillion in quarterly sales for the first time in the fourth quarter of 2021,” he added. For these reasons, researcher Kang chose SK Innovation as the top pick stock of the industry<\/span><\/p>\n <\/p>\n In the same report, researcher Kang predicted, \u201cSK Innovation\u2019s battery business is expected to turn to profit in the second half of 2022, while emphasizing that the value of this business will increase rapidly.\u201d \u201cThe growing order backlog reflects this,\u201d he explained. \u201cHyundai Motor Securities estimates SK Innovation\u2019s battery business value at KRW 26 trillion.\u201d<\/span><\/p>\n <\/p>\n Dow Jones also cited this report from Hyundai Motor Securities and highlighted that SK Innovation’s electric-vehicle battery business may post a record 4Q revenue of over KRW1 trillion. \u201cThe brokerage expects the South Korean energy company’s EV-battery unit to make a profit turnaround in the second half of 2022, when its U.S. factories start operating.\u201d<\/span><\/p>\n <\/p>\n On the same day, Baek Young-chan, a researcher at KB Securities, said in a report that \u201cSK Innovation\u2019s battery business is expected to start full-fledged growth from 2022.\u201d \u201cProfit is expected to be KRW 72.7 billion (turning to a profit from the previous year),\u201d he continued. In addition, researcher Baek commented. “As oil demand increases following the economic recovery, we expect a very strong phase in refining margins.”<\/span><\/p>\n <\/p>\n Earlier, on January 11 (local time), SK Innovation was the only Korean company to be included in the ‘50 Company Stocks to Watch in 2022′<\/a> <\/span><\/span>selected by Bloomberg Intelligence, a research institute Bloomberg.\u00a0<\/span><\/p>\n <\/p>\n Horace Chan of Bloomberg Intelligence said, \u201cAggressive global expansion and tie-ups with Ford Motor Co. and Hyundai Motor Co. could transform SK Innovation Co. from an old-economy company with roots in petroleum and petrochemicals into the world\u2019s third-largest supplier of batteries for electric vehicles in 2022.\u201d \u201cPre-IPO funding for the segment – a plan the company is considering – or taking it public could enhance SK\u2019s value,\u201c Chan added.<\/span><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Securities firms in and outside Korea are sending positive signals to SK Innovation’s oil refining business and battery business. Lee Jin-myung, senior researcher at Shinhan Financial Investment, said in a report dated January 19th that \u201c2022 will be a good year for both SK Innovation\u2019s traditional and new growth businesses,\u201d and proposed a … Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":8987,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,347],"tags":[863,13,472,188,862,462,15,648],"class_list":["post-8985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insight","category-trend_report","tag-bloomberg","tag-ev-battery","tag-ford","tag-hyundai-motor","tag-oil-refining","tag-report","tag-sk-innovation","tag-sk-on"],"acf":[],"_links":{"self":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/8985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/comments?post=8985"}],"version-history":[{"count":3,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/8985\/revisions"}],"predecessor-version":[{"id":8991,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/8985\/revisions\/8991"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/media\/8987"}],"wp:attachment":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/media?parent=8985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/categories?post=8985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/tags?post=8985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}