Citi Raises Samsung Electronics Target to 460,000 Won on HBM Price Gains

Global investment bank Citi Group has sharply raised its target prices for Samsung Electronics and SK Hynix. Samsung Electronics’ target price was lifted from 300,000 won to 460,000 won in just one week, while SK Hynix’s target was raised by 82% to 3.1 million won. Citi said it upgraded earnings forecasts based on price increases for SOCAMM2 and HBM. The bank also reflected its view that the memory semiconductor market still has room to improve. Even with strike risk considered, rising prices and a recovery in demand are supporting expectations for better earnings. The adjustment signals a shift in how a global investment bank views the memory sector. Source: mk.co.kr