LS Securities Upgrades S-Oil Price Target to 140,000 Won on July 13, Downgrades Rating to Hold

S-Oil8.40%
According to LS Securities on July 13, the brokerage upgraded its price target for S-Oil (010950) to 140,000 Korean won from 133,000 won, citing solid earnings extending through next year. However, the firm simultaneously downgraded its investment rating to Hold from Buy, reflecting recent stock gains that leave limited upside of less than 15%. S-Oil's second-quarter consolidated revenue is estimated at 13.8 trillion won, up 71% year-over-year, with operating profit expected to turn positive at approximately 1 trillion won, supported by advantageous crude oil supply agreements with Saudi Aramco.
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