Shares of LG Display (LPL) surged 5.01% during Friday's intraday trading session, reflecting strong investor optimism following a positive analyst update. The stock's significant upward movement caught the attention of market participants amid broader market activities.
The catalyst for this impressive rally appears to be Nomura's decision to raise its price target for LG Display. The financial services firm adjusted its target from KRW12,000 to KRW14,000, representing a substantial increase in their valuation of the company. Importantly, Nomura maintained its "Buy" rating on the stock, signaling continued confidence in LG Display's future prospects.
This bullish stance from Nomura aligns with the overall positive sentiment among analysts covering LG Display. According to data from FactSet, the average rating for the company is "overweight," with a mean price target of 10,806.25 South Korean won. This collective optimism from the analyst community likely contributed to the strong investor response, driving the stock's significant intraday gain.
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