LG Display downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Shawn Kim downgraded LG Display to Equal Weight from Overweight with a price target of KRW 10,000, down from KRW 12,000. The company offers a long-term opportunity, but risk/reward on the name has turned less attractive with higher panel pricing volatility heading into the second half of 2024, the analyst tells investors in a research note. The firm adds that it sees limited catalysts that make it difficult to be Overweight on the stock in the medium term.