[Click eStock] "Samsung Electronics, Target Price Lowered Amid Semiconductor Investment Sentiment Weakening"

Hana Financial Investment, Investment Opinion 'Buy' · Target Price 63,000 Won... Closing Price on 13th 49,950 Won

[Asia Economy Reporter Kum Boryeong] As semiconductor investment sentiment weakens, Samsung Electronics' target stock price has also been downgraded.

On the 16th, according to Hana Financial Investment, Samsung Electronics' operating profit estimate for this year was revised down from 38.9 trillion won to 34.8 trillion won.

Since the outbreak of the novel coronavirus disease (COVID-19), global shipments of notebook PCs and smartphones are expected to contract this year. Kim Kyungmin, a researcher at Hana Financial Investment, explained, "This year's growth rate is expected to be minus 9% for notebook PCs and minus 4.9% for smartphones," adding, "The smartphone shipment forecast for this year has been lowered from 300 million units to 285 million units."

As a result, the operating profit estimate for the IT & Mobile (IM) division this year fell from 10.6 trillion won to 9.5 trillion won.

Hana Financial Investment maintained a 'Buy' investment opinion on Samsung Electronics but lowered the target stock price from 67,000 won to 63,000 won. The closing price on the 13th was 49,950 won.

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