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Citibank raises Innolux rating to buy
Taiwan News, Staff Writer
2014-07-29 02:34 PM

Bullish on benefits to Innolux’s profit inherent in major Korean manufacturers pulling out of the plasma television market and 2015 EPS expected at NT$1.23, Citibank has adjusted Innolux’s rating upward from “sell” to “buy” while simultaneously raising the company’s target price from NT$10.34 to NT$22.

Citibank indicated, after primary manufacturers pull out of the plasma television market, demand for large LCD panels is expected to increase by 4 million to 5 million units. Coupled with stable panel prices, market condition are favorable for gains in Innolux profits in 2015 with continued growth expected in revenue and profit from this year to 2016 and potential EPS of NT$0.98, NT$1.23, and NT$1.35 in 2014, 2015, and 2016, respectively.

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