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South Korean brokerage houses have raised their target prices of Samsung Electronics Co. to as high as 90,000 won on signs of a recovery in global chip demand.
Kiwoom Securities Co. increased its target price of top-cap Samsung Electronics from 75,000 won to 90,000 won, while NH Investment & Securities Co. likewise upgraded its target price to 90,000 won from 76,000 won.
According to Kiwoom Securities analyst Park Yoo-ak, Samsung's fourth-quarter shipments of DRAM chips are expected to way exceed earlier estimates due to solid global DRAM demand.
Samsung Electronics' operating profit is seen ranging from 82 trillion won to 100 trillion won in 2022, depending on changes in DRAM demand.
According to NH Investment & Securities Co., there would be a slowdown in supply growth for DRAM couple by rising demand from data centers.
Nonetheless, most securities companies set their target prices on Samsung Electronics at 80,000 won.
Hyundai Motor Securities Co. raised its target price for Samsung Electronics from 74,000 won to 80,000 won due to a double-digit rise in server DRAM prices in the second quarter.
SK Securities Co. kept its target price for Samsung Electronics at 87,000 won, expecting the company's fourth-quarter profit to fall due to the won's surge against the US dollar, despite relatively good business conditions.
