[Edaily Reporter Kwon Oh Seok ] LG H&H(051900) shares are plummeting by more than 10% in early trading. This sell-off appears to have been triggered by third-quarter earnings that fell short of market expectations and subsequent downward revisions to target prices by securities firms. (Photo courtesy of LG H&H) According to MP Doctor on the 4th, as of 10:11 a.m., LG H&H shares are trading at 232,000 won, down 30,000 won (11.45%) from the previous trading day. Previously, LG H&H announced in a disclosure the previous day that its preliminary consolidated third-quarter revenue was 1.5774 trillion won, with operating profit at 70.4 billion won. Revenue decreased by 0.2% year-over-year, while operating profit increased by 52.4%. Although operating profit rose, it fell short of the market forecast of 101.3 billion won. As a result, securities firms unanimously lowered their target prices. In a report released today, Meritz Securities lowered its target price from 370,000 won to 320,000 won. Korea Investment & Securities lowered its target from 340,000 won to 310,000 won, and SANGSANGINVESTMENT&SECURITIES also lowered its target from 350,000 won to 310,000 won.
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