This earnings recovery needs deeper scrutiny. Samsung’s profitability boost came mainly from ASP hikes, raising concerns about its sustainability.
More importantly, Samsung’s weakness in HBM and AI chips remains a long-term challenge. Brokerage upgrades may be overly focused on short-term numbers, overlooking structural competitiveness issues.
Core Sell Point
The optimistic outlook based on short-term earnings masks structural challenges, particularly in HBM and AI chips. This could lead to future downward revisions once the market refocuses on long-term competitiveness.
This week, brokerages turned bullish on Samsung Electronics, driven by a strong Q2 earnings beat and expectations of a memory market recovery.
In contrast, battery stocks like LG Energy Solution and Samsung SDI faced target price cuts due to weak EV demand in Europe. Retail and gaming sectors also received pessimistic outlooks.
Between July 8–12 (10 AM KST), analysts raised target prices for 153 stocks while lowering them for 104.
Samsung Electronics: Target Price Upgrades
Samsung was the main focus for brokerage firms this week, with 9 firms raising their target prices. Some even revived hopes of "₩120,000 Samsung."
Market dominance remains intact, and AI-integrated appliances could boost demand.
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