LG Energy Solution Watchlist
LG Energy IPO - Valuation
Equity Capital Markets
306 Views, 04 Jan 2022 08:46
- LG Energy is being benchmarked against CATL for its IPO valuation and we believe this is incorrect.
- CATL’s position within China’s supply chain and LFP technology should drive a significant premium against other North Asian peers in our view.
- If LG Energy were to simply be benchmarked against Samsung SDI it starts to look expensive and while a premium may be reasonable we do not consider it a given.