SK Innovation stock gets a KRW 200,000 target from Yuanta

Published on 09/29/2026 at 18:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

SK Innovation stock generated KRW 29.1572 trillion in Q2 revenue and KRW 3.4873 trillion in operating profit. Revenue was 20.42 percent above Q1.

SK Innovation, KR7096770003, Illustration mit AI erstellt.

SK Innovation (ISIN KR7096770003) is entering the final quarter of 2026 with a KRW 200,000 price target from Yuanta Securities Korea, raised from KRW 170,000 on September 15, 2026. The upgrade rests on a projected earnings rebound in refining and lubricants, while restructuring remains a material counter-factor.

Yuanta lifts target to KRW 200,000

As Seoul Economic Daily reported on September 15, 2026, Yuanta lifted its target from KRW 170,000 to KRW 200,000 and maintained a Buy rating. The brokerage projected 2026 revenue of KRW 102.2 trillion and operating profit of KRW 10.0 trillion, implying a 9.8 percent operating margin.

The estimate places refining at KRW 6.2 trillion of operating profit and lubricants at KRW 2.2 trillion. Battery losses were projected at KRW 96.4 billion, compared with a KRW 923.5 billion loss in the prior-year forecast, according to the same September 15 report.

Q2 revenue rises 20.42 percent

SK Innovation's reported second-quarter revenue reached KRW 29.1572 trillion, up 20.42 percent from KRW 24.2121 trillion in the first quarter. Operating profit also rose to KRW 3.4873 trillion from KRW 2.1622 trillion, according to Chosun Daily in its September 11, 2026 report.

The comparison matters because the earnings recovery is concentrated in businesses exposed to refining margins and energy-market conditions. Chosun Daily also cited a Shinhan Investment and Securities forecast for full-year operating profit of KRW 9.2187 trillion, KRW 500.0 billion above consensus on the September 11 assessment.

Restructuring offsets the earnings case

The bullish forecast carries a clear operational qualification. SK Innovation's planned absorption of SK IE Technology was expected to dilute the share count by 2.6 percent, while the potential restructuring of SK Geo Centric's chemical assets adds another execution risk, Seoul Economic Daily reported on September 15, 2026.

That leaves the investment debate centered on whether higher refining and lubricant earnings can outweigh dilution and restructuring costs. Yuanta also estimated operating cash flow would generate KRW 4.5 trillion of free cash flow in 2026 and KRW 1.5 trillion in 2027.

KRW 145,900 on the KRX

SK Innovation was trading at KRW 145,900 on the KRX on September 29, 2026, at 3:30 p.m. KST. Its market capitalization was KRW 24.5 trillion, and the 52-week range was KRW 87,700 to KRW 164,700.