Durable Goods (Jun F) -9.4% vs 9.3% Prior, Ex-Trans 0.2% vs 0.2%
Investing.com - JPMorgan has upgraded L&F Co Ltd (KS:066970) from Neutral to Overweight and raised its price target to KRW100,000 from KRW74,000, citing strong growth prospects in the company’s LFP cathode business.
The investment bank views L&F’s LFP cathode business growth opportunity as the most visible among Korean cathode peers, pointing to the company’s aggressive capacity expansion plans that include 30kt by first half of 2026 with a gradual ramp to 60kt by the end of second half of 2026.
JPMorgan notes that all three major Korean battery cell customers are in discussions with L&F, further strengthening the company’s growth outlook in the cathode materials sector.
The bank also expects L&F’s Hi-N cathode volume growth to accelerate in upcoming quarters from market share gains, highlighting that the company’s end-customer exposure is primarily toward non-US/China international markets where L&F faces fewer policy headwinds from tariffs and IRA policy changes.
L&F shares have gained 11% in the last three months, underperforming the broader Kospi index which rose 27% during the same period, but JPMorgan expects L&F to outperform its cathode peers going forward and recommends investors accumulate the stock.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.