Business · Markets · 3 hrs ago
Korea Investment starts Samsung coverage with 440,000-won target
Korea Investment Securities began covering Samsung Electronics with a buy rating and a target price of 440,000 won.
The brokerage expects fourth-quarter operating profit to rise 15% from the previous quarter to 123.3 trillion won, with revenue up 11% to 216.4 trillion won.
It expects long-term memory supply contracts to reach about 70% of the company’s business, helping support sales as price growth steadies.
The brokerage says HBM4E shipments could lift memory prices when they ramp up, which it expects in the third quarter of next year.
It also sees future revenue from new US cloud customers for Samsung’s chipmaking business, with shipments and sales expected to start in 2028.
The brokerage says the shares remain attractively priced through year-end and sees room to raise its estimates; these are forecasts, not confirmed results.
Korea Investment & Securities began coverage of Samsung Electronics with a buy rating and a 440,000-won target price.
The brokerage said an aggressive increase in holdings was timely.
It forecast fourth-quarter operating profit of 123.3 trillion won, up 15% from the previous quarter.
It expected long-term supply contracts to account for about 70% of memory sales in the quarter.
The brokerage cited potential gains from HBM4E shipments and foundry customer orders as possible sources of further earnings-estimate increases.
- Who
- Korea Investment & Securities began coverage of Samsung Electronics.
- What
- It issued a buy rating and set a 440,000-won target price.
- When
- November 3, 2026.
- Where
- Not stated.
- Why
- The brokerage cited expected earnings growth, long-term supply contracts and potential growth in memory and foundry businesses.
This story does not have two clearly opposing sides.
Korea Investment & Securities began coverage of Samsung Electronics with a buy rating and a 440,000-won target price.
The brokerage forecast operating profit of 123.3 trillion won and revenue of 216.4 trillion won.
The brokerage expected HBM4E shipments to begin significantly affecting average selling prices.
The brokerage expected shipments and revenue from foundry orders for cloud-service-provider customers to begin in earnest.
- Target price
- 440,000 won
- Fourth-quarter operating profit forecast
- 123.3 trillion won, up 15% quarter on quarter
- Fourth-quarter revenue forecast
- 216.4 trillion won, up 11% quarter on quarter
- Long-term supply contract share
- About 70%
- Memory average selling price forecast
- DRAM up 7%; NAND up 6%
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What people are saying
Considering the possibility of a change in sentiment in November, we expect the current price attractiveness ahead of the first half of next year to last until year-end.
It is once again a timely point for an aggressive strategy of increasing holdings.