] Samsung Securities
on Aug. 12 elevated the target price of Samsung Electronics to 1.8 million won (US$1,600) from the previous 1.65 million won considering upbeat chip and device sales.
“We have adjusted the price as the figure is approaching a record high,” said Hang Min-seong, analyst at the securities firm.
He also increased the earnings estimates to 7.7 trillion won for the third quarter and 7.5 trillion won for the fourth quarter, citing positive signs of the company’s memory chips and the successful launch of the latest Galaxy Note 7 smartphone.
He predicted the company’s profits could decline in the latter half of this year due to the strong Korean won and stiff competition with Chinese chip and display makers.
By Lee Ji-yoon (firstname.lastname@example.org