IBK Investment & Securities "3rd Quarter Earnings Forecast Downgraded"
Target Price Lowered to 95,000 Won
Samsung Electronics showed weakness on the 4th. This is interpreted as being influenced by a report that once again lowered the target price due to a downward revision of the third-quarter earnings forecast.
As of 9:42 a.m., Samsung Electronics was trading at 61,100 won, down 0.33% (200 won) from the previous day. At this time, foreign investors are buying shares worth 22.9 billion won.
On this day, IBK Investment & Securities forecasted that Samsung Electronics' third-quarter earnings would fall short of previous expectations. Accordingly, they maintained a 'Buy' rating but lowered the target price to 95,000 won.
Kim Un-ho of IBK Investment & Securities stated, "Samsung Electronics' sales for the third quarter of 2024 are expected to increase by 8.7% from the previous quarter to 80.55 trillion won, while operating profit is expected to decrease by 2.7% from the previous quarter to 10.16 trillion won," adding, "Both figures are lower than previous forecasts."
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