LG Uplus Corp. (032640) jumped the most in 22 months in Seoul trading on speculation the company’s smartphone subscribers are increasing faster than expected, an analyst said.
The South Korean mobile-phone operator jumped 8.2 percent to 5,950 won as of 1:56 p.m. on the Korea Exchange, while the benchmark Kospi stock index climbed 1.3 percent.
“Faster-than-expected growth of smartphone subscribers will lead to an earnings turnaround this year,” Stan Jung, an analyst at Woori Investment & Securities Co., said by phone today. He said the shares are “cheap.”
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