Morgan Stanley Downgrades LG Display to Equalweight, 'Limited near-term conviction and visibility'

  • Investing.com
Morgan Stanley Downgrades LG Display to Equalweight, 'Limited near-term conviction and visibility'
(Updated - September 5, 2023 5:04 PM EDT)

Morgan Stanley (NYSE: MS ) analyst downgraded LG Display (LPL) from Overweight to Equalweight.

The analyst comments "Limited near-term conviction and visibility cause us to move to the sidelines...: We are downgrading LGD to Equal-weight from Overweight and lowering our price target from W18,000 to W14,000 given four key reasons: 1) LCD panel prices hikes are peaking and the YoY rate of change is slowing down; 2) mobile OLED shipment could disappoint on reduced smartphone demand, slight delays in new product shipment and increased competition from China; 3) LGD is now a ‘show-me story’ with key debates hinging on cyclical headwinds in 2024. We see a limited catalyst path that would enable re-rating into year-end."

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