[Click eStock] "Samsung Electro-Mechanics, Potential Improvement in Market Conditions in the Second Half"
NH Investment & Securities maintained its investment opinion of 'Buy' and target price of 190,000 KRW for Samsung Electro-Mechanics on the 19th.
NH Investment & Securities judged that the overall lowered expectations for IT device demand improvement are actually positive. If the improvement in Chinese smartphone demand materializes, the industry conditions and stock price are expected to improve sharply.
![[Click eStock] "Samsung Electro-Mechanics, Potential Improvement in Market Conditions in the Second Half"](http://www.asiae.co.kr/news/img_view.htm?img=2022120610253541784_1670289935.jpg)
Researcher Lee Gyu-ha of NH Investment & Securities said, "It seems that Asian investors' expectations for IT demand improvement in the second half of the year have recently declined significantly," adding, "Some investors expect the recovery in smartphone demand within IT devices to be the slowest, but considering Samsung Electro-Mechanics' new product launches, base effects, and the 618 Festival, the possibility of improvement remains valid."
As an investment point for Samsung Electro-Mechanics, the growth of automotive MLCC is evaluated as the most positive. Despite concerns about earnings uncertainty due to the slowdown in IT demand, the growth of automotive MLCC is expected to reduce earnings volatility.
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Researcher Lee said, "Samsung Electro-Mechanics will emerge as the second-largest company in the automotive MLCC market following Murata," and added, "The possibility of recovery in the substrate industry in the second half, the increase in camera modules, and the rise in average selling price due to specification upgrades are also positive factors. Considering the industry improvement in the second half, we recommend buying."
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