Corporate Logo(source: samsung.com)
Hana Securities has revised downward its earnings forecast and target price for Samsung Electronics (005930), citing weaker-than-expected second-quarter performance. The brokerage lowered its target price from 84,000 won to 80,000 won. The stock closed at 63,800 won on the previous trading day.
The firm now expects Samsung’s Q2 revenue to reach 75.4 trillion won, down from the earlier projection of 77.5 trillion won, and operating profit to come in at 5.8 trillion won, compared to the previous estimate of 6.6 trillion won.
Analyst Kim Rok-ho commented, “The impact of an unfavorable exchange rate and slower-than-expected recovery in the semiconductor segment is likely to weigh on earnings.” He added, “Shipments of high bandwidth memory (HBM) have fallen short of expectations, which is expected to dampen DRAM growth.”
Regarding NAND flash, Kim noted, “Although the pace of price declines has moderated compared to the previous quarter, the supply-demand imbalance remains more pronounced than in the DRAM market. This makes a price rebound unlikely in the near term.” He further stated, “Revenue growth in the foundry business is also lagging behind expectations, which may limit the extent of margin improvement.”
Kim emphasized that “Samsung Electronics is no longer trading at a deeply undervalued level.” He explained, “Contrary to earlier concerns, DRAM prices began to rebound in the second quarter, driving gains in global memory stocks, with Samsung participating in this upward trend.”
However, he also pointed out, “The stock’s rally has been significantly weaker than that of its peers. To close the performance gap, Samsung must demonstrate clear competitiveness in the HBM segment. Proving its capabilities could help eliminate the valuation discount currently applied to the stock.”
*[KOSPI] Samsung Electronics(005930) is the top company in the KOSPI, dominating the global market in semiconductors and smartphones. Its market capitalization is 377.672 trillion won (as of July 3, 2025, closing price).
Corporate Logo(source: samsung.com)
Hana Securities has revised downward its earnings forecast and target price for Samsung Electronics (005930), citing weaker-than-expected second-quarter performance. The brokerage lowered its target price from 84,000 won to 80,000 won. The stock closed at 63,800 won on the previous trading day.
The firm now expects Samsung’s Q2 revenue to reach 75.4 trillion won, down from the earlier projection of 77.5 trillion won, and operating profit to come in at 5.8 trillion won, compared to the previous estimate of 6.6 trillion won.
Analyst Kim Rok-ho commented, “The impact of an unfavorable exchange rate and slower-than-expected recovery in the semiconductor segment is likely to weigh on earnings.” He added, “Shipments of high bandwidth memory (HBM) have fallen short of expectations, which is expected to dampen DRAM growth.”
Regarding NAND flash, Kim noted, “Although the pace of price declines has moderated compared to the previous quarter, the supply-demand imbalance remains more pronounced than in the DRAM market. This makes a price rebound unlikely in the near term.” He further stated, “Revenue growth in the foundry business is also lagging behind expectations, which may limit the extent of margin improvement.”
Kim emphasized that “Samsung Electronics is no longer trading at a deeply undervalued level.” He explained, “Contrary to earlier concerns, DRAM prices began to rebound in the second quarter, driving gains in global memory stocks, with Samsung participating in this upward trend.”
However, he also pointed out, “The stock’s rally has been significantly weaker than that of its peers. To close the performance gap, Samsung must demonstrate clear competitiveness in the HBM segment. Proving its capabilities could help eliminate the valuation discount currently applied to the stock.”
*[KOSPI] Samsung Electronics(005930) is the top company in the KOSPI, dominating the global market in semiconductors and smartphones. Its market capitalization is 377.672 trillion won (as of July 3, 2025, closing price).