Citi double downgraded LG Display (LPL) to Sell from Buy with a price target of KRW 7,000, down from KRW 18,000. The company reported a Q3 loss due to continuous OLED demand weakness, particularly in the tablet market, along with a one-off expense, the analyst tells investors in a research note. Citi anticipates LG will face “fierce competition” against BOE and Samsung as well as a challenging Chinese display market.
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