[Click eStock] "Samsung Electronics, Memory Market Recovery... Target Price Up"

On the 27th, Kiwoom Securities raised the target price for Samsung Electronics from 73,000 won to 80,000 won, citing a recovery in the memory market. The investment rating was maintained as 'Buy.'

Park Yu-ak, a researcher at Kiwoom Securities, stated, "Reflecting the recovery in the general memory market, we have raised both the earnings per share (EPS) and target price for 2025-2027," adding, "The anticipated results for 1bnm·1cnm DRAM and high-bandwidth memory (HBM) 3e, which we have been waiting for, are approaching, and so far there appear to be no major failures. As we move into the second quarter, related expectations are expected to be reflected in the stock price."

The general memory market is showing signs of recovery. Researcher Park said, "The server market is expected to record the highest sales volume ever in 2025," and "Demand in the first quarter of this year is also showing a stronger trend compared to past seasonality." General DRAM is expected to see a price rebound in the second half due to the ripple effect of increased HBM supply, while NAND prices are projected to rebound from the second quarter due to production cuts by suppliers.

Sales expansion of 1bnm DRAM in the second quarter and HBM3e and 1cnm DRAM in the second half is anticipated. Researcher Park forecasted, "With the expansion of bnm mass production share in the second quarter, an increase in general DRAM sales is expected," and "Market competitiveness will improve as 1cnm DRAM and Nvidia-targeted HBM3e receive mass production quality tests (quality certification)."

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