LG Uplus Shares Jump Most in 22 Months in Seoul on Smartphone Speculation
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.”
To contact the reporter on this story: Saeromi Shin in Seoul at email@example.com
To contact the editor responsible for this story: Sangim Han at firstname.lastname@example.org