NH Investment & Securities lowered its target price for LG Chem to 350,000 won from 400,000 won, a 12.5% reduction, while maintaining a buy rating. A securities-firm forecast expects third-quarter operating profit of 9.9 billion won ($7.3 million), far below the 187 billion won market consensus. An earlier estimate in the brokerage’s coverage described 9.9 billion won as combined third- and fourth-quarter operating profit, creating a discrepancy in the period covered. NH cited a prolonged petrochemical downturn and a slowdown in electric-vehicle demand known as the EV chasm. It expects combined third- and fourth-quarter revenue of 15.157 trillion won ($10.9 billion), up 47.9% from a year earlier, while forecasting a combined petrochemical operating loss of 225.1 billion won over the two quarters. The advanced materials division, including electronic and cathode materials, is expected to support growth, with third-quarter operating profit previously forecast at 24.4 billion won. NH expects LG Energy Solution to recover over the medium to long term, although it lowered its outlook for cathode-material profitability next year and said energy-storage-system growth would provide limited support.