The target prices of the Samsung Electronics shares, presented by domestic securities firms, surged to 2.9-million-won level amid expectations that Samsung's annual operating profit would rise by 70 percent to about 50 trillion won this year.
On March 23, Samsung Electronics' shares closed at 2.09 million won, down 33,000 won or 1.55 percent from the previous day. Samsung Electronics’ short-term rally temporarily stopped and caught its breath. Nevertheless, expectations are growing that its share price would continue an upward trend.
A day ago, Macquarie Securities raised its target price on Samsung Electronics up to 2.9 million won from 2.5 million won (January 3), the highest level among those presented so far by any other securities firms.
Daniel Kim, analyst at Macquarie Securities, said, “Samsung Electronics is forecast to generate an operating profit of 15 trillion won in semiconductor business, 4 trillion won in display, and 2 trillion won in smartphone, with its annual operating profit likely to reach 49.7 trillion won this year, up 70 percent from a year ago.”