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LG Display upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley upgraded LG Display (LPL) to Equal Weight from Underweight with a price target of KRW 9,500, up from KRW 8,600. The firm, which thinks weak end markets and an uncertain cyclical outlook are “de-risked in valuation and earnings,” sees a meaningful OLED contribution and fixed cost reduction driving a turn to profit and improving earnings from Q3 onward.

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