Korea Investment Securities said in a report published on July 31 that it has raised its target price for Samsung Electronics by 10% to KRW 650,000 while maintaining a "buy" rating. The brokerage argued that the market is still valuing Samsung under the framework typically used for traditional cyclical stocks, even as the company’s memory business is being reshaped by long-term supply agreements. According to the report, that shift is moving the segment away from a cycle-driven model toward an order-driven one. The firm said the transition could improve earnings stability, increase the predictability of Samsung’s results, and lift its valuation center over time. On that basis, Korea Investment Securities described the company’s current share price as being in a state of "severe undervaluation."
BlockBeats reported on Aug. 1 that Korea Investment Securities said in a July 31 research note it had raised its target price for Samsung Electronics by 10% to KRW 650,000 and kept its "buy" rating unchanged.
The brokerage said the market is still pricing Samsung Electronics as a traditional cyclical stock, while overlooking how long-term supply agreements are pushing its memory business from a "cycle-driven" model toward an "order-driven" one. Korea Investment Securities said that shift could improve the stability of the company’s earnings, make its performance more predictable, and lift its valuation center, adding that the stock is currently "severely undervalued."
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