Goldman keeps Hold rating on SK Innovation stock at KRW 140,000 target

Published on 10/19/2026 at 02:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Meritz lifted its target to KRW 210,000 on October 14, 2026. For SK Innovation stock, second-quarter operating profit reached KRW 3.49 trillion.

Analyst targets diverge

Goldman Sachs maintained a Hold rating and set a KRW 140,000 target on October 15, 2026.
Meritz Securities projected third-quarter revenue of KRW 29.8 trillion and operating profit of KRW 3.7 trillion on October 14, 2026.
SK Innovation reported second-quarter revenue of KRW 29.16 trillion and net profit of KRW 215.01 billion.

SK Innovation, KR7096770003, Illustration mit AI erstellt.

SK Innovation (ISIN KR7096770003) drew a split analyst view after Markets Insider reported on October 15, 2026 that Goldman Sachs maintained a Hold rating and set a KRW 140,000 price target. One day earlier, CHOSUNBIZ reported that Meritz Securities raised its target from KRW 180,000 to KRW 210,000.

Targets point in opposite directions

The gap between the two targets is KRW 70,000, making the analyst split more important than a single consensus figure. Goldman Sachs emphasized valuation caution, while Meritz linked its higher target to refining and lubricants strength during prolonged geopolitical risks.

KOSPI News listed an LS Securities target increase from KRW 126,000 to KRW 187,000 dated October 6, 2026. The sequence shows that target revisions have moved materially higher even as Goldman Sachs retained a Hold stance.

What does the target reset imply?

Meritz projected third-quarter revenue of KRW 29.8 trillion and operating profit of KRW 3.7 trillion in its October 14, 2026 report. Its estimate assigns KRW 1.9 trillion of operating profit to refining and KRW 1.1 trillion to lubricants, while the battery business was expected to remain loss-making.

The latest reported quarter provides a useful baseline. In the quarter ended June 30, 2026, SK Innovation posted revenue of KRW 29.16 trillion and net profit of KRW 215.01 billion, according to Markets Insider. Meritz is therefore looking for operating profit of KRW 3.7 trillion in the third quarter, compared with KRW 3.49 trillion in the second quarter.

Business mix remains decisive

SK Innovation operates across refining, petrochemicals, lubricants, energy solutions, electric-vehicle batteries and lithium-ion battery separators. The contrast between Meritz's earnings view and Goldman Sachs' target highlights the central issue: stronger non-battery profits must offset continued pressure in batteries and separator materials.

KRX quote and valuation markers

SK Innovation stock was last at KRW 153,300 on the KRX on October 19, 2026 at 9:16 a.m. KST. Its market capitalization was KRW 25.9 trillion, while the 52-week range stood at KRW 87,700 to KRW 165,400 as of October 19, 2026.