SK Innovation Could Get Boost From Refinery Margins, ESC Ramp-Up -- Market Talk

0125 GMT - SK Innovation could get an earnings boost from its resilient refinery margins and a ramp-up of its energy storage system business, Daiwa Capital's Hen Jung and Yoonki Base say. The South Korean energy company's oil-refining business remains strong, as Middle East conflicts keep both crude prices and refining margins elevated, the analysts note. Its battery subsidiary, SKI On, is on track for a profit turnaround after the parent completed restructuring of its battery and materials businesses, they say, citing a recent deal to supply 9GWh of ESC battery cells in the U.S. Daiwa raises its 2026-2028 EPOS forecasts for SKI Innovation by 11%-67%. It raises the stock's rating to buy from hold and its target to 220,000 won from 120,000 won. Shares were last at 134,100 won.(kwanwoo.jun@wsj.com)

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September 01, 2026 21:25 ET (01:25 GMT)