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LG.Philips LCD shares surge on Q3 earnings hopes

Sun Oct 7, 2007 9:30pm EDT

Stocks

   

SEOUL, Oct 8 (Reuters) - Shares in LG.Philips LCD (034220.KS) surged over 6 percent on Monday, a day ahead of third-quarter earnings results that many expect will be solid and after UBS raised its 2007 and 2008 earnings forecasts and target price.

UBS raised its 2007 and 2008 earnings-per-share forecasts for the South Korean flat-panel maker by 9.4 percent and 46 percent respectively, citing rising IT panel prices, while raising its share target price on the stock to 52,500 won from 47,000 won in a report dated Oct. 5.

Analysts expect LG.Philips LCD to post on Tuesday its best quarterly result since the second quarter of 2004.

Shares in LG.Philips LCD were up 6.5 percent at 45,700 won by 0136 GMT, outpacing a 0.7 percent gain in the main KOSPI .

((Reporting by Rafael Nam, editing by Sei Chong; Reuters Messaging: rafael.nam.reuters.com@reuters.net; Email: rafael.nam@reuters.com; Tel: +822 3704 5644)) Keywords: LGPHILIPS SHARES/SURGE

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